Brookfield discusses possibilities to purchase GGP for United States dollars 14 billion


Each GGP shareholder can elect to receive consideration per GGP common share of either $23.00 in cash or 0.9656 of a limited partnership unit of BPY, subject in each case to pro-ration based on a maximum cash consideration of about $7.4 billion (50% of the aggregate offer) and a maximum of approximately 309 million BPY units valued at approximately $7.4 billion (50% of the aggregate offer). The company now has a consensus rating of Buy and an average price target of $48.88. Brookfield Property Partners L.P. has a 1-year low of $20.31 and a 1-year high of $24.96. Scotiabank lifted their price objective on Brookfield Property Partners L.P. from $25.25 to $25.50 and gave the company an "outperform" rating in a research note on Monday, November 6th. Public Sector Pension Investment Board now controls 1,239,819 shares worth $29,289,000. Scotia Capital Inc. claims 2,527,595 shares valued at $80,466,000.

A number of other institutional investors have also recently bought and sold shares of BIP. The value of the company's investment in Brookfield Property Partners L increased from $718,000 to $730,000 increasing 1.7% for the reporting period. The company now has a P/E ratio of 98.60 and market capitalization is 5.79B.

Zacks Investment Research cut shares of Brookfield Infrastructure Partners LP (NYSE:BIP) (TSE:BIP.UN) from a buy rating to a hold rating in a report issued on Tuesday.

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GGP's share prices immediately jumped this morning on news of the offer, trading at about $23.65 in mid-morning. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

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Brookfield Property Partners L.P., launched on January 3, 2013, is a diversified global real estate company. The ex-dividend date of this dividend is Wednesday, November 29th.

However, GGP shares on the New York Stock Exchange are down almost six per cent year-to-date as brick-and-mortar retailers increasingly come under pressure from competition from e-commerce, such as Amazon. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.00%.

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific.

Law360, Minneapolis (November 13, 2017, 2:33 PM EST) - Brookfield Property Partners LP offered $14.8 billion for the stake in retail-focused real estate investment trust GGP Inc. that it does not already own, the firms said Monday, with Weil Gotshal & Manges LLP and Sullivan & Cromwell LLP respectively guiding the buyer and seller.

Brookfield Property, which is part of Brookfield Asset Management, owns or operates office properties, retail centers and multifamily housing units.