Friday, March 30, 2018

Experts Say Brookfield’s Lowball Offer For GGP Could Spark A Bidding War

Experts Say Brookfield’s Lowball Offer For GGP Could Spark A Bidding WarSome experts foresee a bidding war breaking out on the heels of the Brookfield Property Partners deal to acquire the remaining 66% of GGP for $9.25B in cash.

The deal has sparked controversy and caused many to question whether or not it will lead to the undervaluing of Class-A malls. GGP rejected an earlier offer from Brookfield because it was deemed too low, but according to Brookfield, the new offer increases the cash consideration from $7.4B to $9.25B.

Bullish real estate investor and Seeking Alpha contributor Julian Lin said this controversy could lead GGP rival Simon Property Group to put in a bid. . . . more

No comments: