JPMorgan Downgrades General Growth Properties (GGP) to Neutral

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Go back to JPMorgan Downgrades General Growth Properties (GGP) to Neutral

Brookfield and GGP Reach Agreement on BPY’s Acquisition of GGP

March 26, 2018 6:05 PM EDT

GGP shareholders can elect to receive for each GGP share either $23.50 in cash, or either one BPY unit or one share of a newly created U.S. REIT, subject to proration, for an aggregate cash / equity consideration ratio of approximately 61% / 39%
 
Transaction expected to be immediately accretive to FFO/unit for BPY unitholders; BPYs current per unit distribution is more than 40% higher than the per share dividend currently received by GGP shareholders

Special Committee of GGP unanimously recommends the transaction

Brookfield News, March 26, 2018 (GLOBE... More