GGP Inc, one of the largest owners and operators of U.S. shopping centers, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP, people familiar with the matter said on Sunday.
Property made a $23-per-share cash and stock offer last month for the
66 percent 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.. . . more