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Actionable news in GGP: GENERAL GROWTH PROPERTIES Inc,

GGP shares jump after Brookfield mounts an acquisition bid

GGP Inc. GGP, +6.71% shares surged nearly 6% Monday morning after Brookfield Property Partners L.P. BPY, +1.54% offered to buy the retail real estate company. Brookfield presented the offer to GGP's board on Saturday. Under the deal, which values the company at $21.8 billion, Brookfield would pay $23 a share, a 3.6% premium to Friday's closing price, in a combination of cash and units. The combined company would be owned about 30% by existing GGP shareholders. GGP shares are down 11.1% in the year to date, reflecting a difficult environment for retail. The S&P 500 SPX, -0.09% in contrast, is up 15.3%.


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