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Brookfield and GGP Reach Agreement on BPY’s Acquisition of GGP
March 26, 2018 6:05 PM EDTGGP 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%
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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