GGP rejects Brookfield Property's US$14.8b buyout offer: sources
New York
GGP Inc, one of the largest owners and operators of US shopping centres, has rejected a US$14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP, people familiar with the matter said on Sunday.
Brookfield Property made a US$23-per-share cash and stock offer last month for the 66 per cent of GGP it does not already own. A combination of Chicago-based GGP and Brookfield Property would create one of the world's largest publicly traded property companies.
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