Shopping center stock GGP is rising on reports that Brookfield is interested in a takeover (GGP)
07 November 2017 at 22:47GGP is getting a boost from reports that the company could be the target of a takeover.- Brookfield, an asset manager, is in talks to acquire shopping mall investor
- GGP shares are up 17% on the news, adding to its
- $18.18 billion market cap.
- The talks are in the early stages,
- Brookfield currently owns 34% of GGP shares, which it purchased for $462 million as part of an agreement to take the company out of bankruptcy.
- The companies discussed a 10-15% premium above GGP's share price at the start of the week, according to Bloomberg.
- GGP is down 11.9% for the year, even after the move on Tuesday.
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