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BPY

Brookfield Property

$20.21

-0.1 (-0.49%)

, GGP

GGP

$21.72

0.09 (0.42%)

18:12
03/16/18
03/16
18:12
03/16/18
18:12

Brookfield Property submits new takeover bid for GGP, Reuters reports

Brookfield Property Partners (BPY) has submitted a new bid to acquire GGP (GGP), Reuters reports, citing people familiar with the matter. The new offer comes over three months after a special board committee of GGP spurned a $14.8B takeover bid from Brookfield Property, its biggest shareholder, as inadequate, the report says. Brookfield's new bid has a slightly higher cash component and offers GGP investors a new security that will trade as a REIT, the report says. GGP's special committee has not yet agreed to the new bid, and talks are continuing, the report says. Reference Link

BPY

Brookfield Property

$20.21

-0.1 (-0.49%)

GGP

GGP

$21.72

0.09 (0.42%)

  • 18

    Mar

BPY Brookfield Property
$20.21

-0.1 (-0.49%)

11/13/17
ADAM
11/13/17
DOWNGRADE
ADAM
Hold
Brookfield Property downgraded to Hold from Buy at Canaccord
12/11/17
EVER
12/11/17
DOWNGRADE
Target $24
EVER
In Line
Brookfield Property downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Steve Sakwa downgraded Brookfield Realty (BPY) to In Line and trimmed its price target to $24 from $25 saying shares are trading more around its offer for GGP Inc (GGP) rather than fundamentals.
GGP GGP
$21.72

0.09 (0.42%)

02/02/18
SDLR
02/02/18
DOWNGRADE
SDLR
Sell
GGP downgraded to Sell from Hold at Sandler O'Neill
02/02/18
02/02/18
DOWNGRADE
Target $22

Sell
GGP downgraded to Sell at Sandler ONeill on lower chances of higher bid
As previously reported, Sandler ONeill analyst Alexander Goldfarb downgraded GGP (GGP) to Sell from Hold, as he believes the chances of a materially higher price bid from Brookfield (BAM) have decreased. He notes that a report this week that Brookfield may be interested in acquiring another REIT - Forest City Realty (FCE.A) - caused GGP to trade under the $23 level for the first time since November 10 and he now thinks $24 is likely the best offer for GGP. Absent a deal, the stock could trade back towards its pre-M&A level of $19, contends Goldfarb, who has a $22 price target on GGP shares.
02/26/18
SDLR
02/26/18
UPGRADE
SDLR
Hold
GGP upgraded to Hold from Sell at Sandler O'Neill
02/26/18
SDLR
02/26/18
UPGRADE
Target $22
SDLR
Hold
Sandler sees balanced risk/reward on GGP, upgrades to Hold
Sandler O'Neill analyst Alexander Goldfarb upgraded earlier to Hold from Sell with a $22 price target. The analyst sees a more balanced risk/reward profile following the recent pullback in the shares. The analyst thinks there will "ultimately be a deal" for GGP, but he believes Brookfield is in no rush and will continue to use the general market weakness to its advantage.

TODAY'S FREE FLY STORIES

PRO

Pros Holdings

$35.39

-1.91 (-5.12%)

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IIN

IntriCon

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  • 06

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ADUS

Addus HomeCare

$59.35

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20:33
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Addus HomeCare 2.1M share Secondary priced at $59.00 »

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  • 16

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LABL

Multi-Color

$63.90

-1 (-1.54%)

20:32
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Multi-Color rating change  »

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WMT

Walmart

$90.24

-0.565 (-0.62%)

, JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

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WMT

Walmart

$90.24

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J.C. Penney

$2.40

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  • 16

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WUBA

58.com

$58.59

-3.27 (-5.29%)

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Hot Stocks
Breaking Hot Stocks news story on 58.com »

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  • 16

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WUBA

58.com

$58.59

-3.27 (-5.29%)

19:08
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Earnings
58.com reports Q2 adjusted earnings per ADS 82c, consensus 68c »

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  • 16

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WAIR

Wesco Aircraft

$13.65

-0.3 (-2.15%)

19:07
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TGI

Triumph Group

$21.10

-0.9 (-4.09%)

19:07
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Initiation
Triumph Group initiated  »

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HXL

Hexcel

$68.40

-1.13 (-1.63%)

19:06
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Initiation
Hexcel initiated  »

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  • 06

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ERJ

Embraer

$18.64

-0.495 (-2.59%)

19:05
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Initiation
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CW

Curtiss-Wright

$130.92

-2.42 (-1.81%)

19:04
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19:04
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19:04
Initiation
Curtiss-Wright initiated  »

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LLL

L3 Technologies

$208.08

-1.73 (-0.82%)

19:03
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Initiation
L3 Technologies initiated  »

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GD

General Dynamics

$192.29

-1.33 (-0.69%)

19:03
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Initiation
General Dynamics initiated  »

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BDRBF

Bombardier

$0.00

(0.00%)

19:02
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Initiation
Bombardier initiated  »

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HEI

Heico

$76.50

-1.81 (-2.31%)

19:00
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Heico initiated  »

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  • 28

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HRS

Harris

$162.73

-2.15 (-1.30%)

18:59
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NOC

Northrop Grumman

$291.52

-2.35 (-0.80%)

18:59
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Initiation
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PNC

PNC Financial

$142.03

-0.7 (-0.49%)

, WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

18:57
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Periodicals
PNC faces subpoenas over low-income housing tax credits, Bloomberg says »

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PNC Financial

$142.03

-0.7 (-0.49%)

WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

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  • 12

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UTX

United Technologies

$131.75

-0.65 (-0.49%)

18:57
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Initiation
United Technologies initiated  »

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  • 17

    Aug

B

Barnes Group

$65.59

-0.26 (-0.39%)

18:56
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Initiation
Barnes Group initiated  »

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SPR

Spirit AeroSystems

$84.51

-1.6 (-1.86%)

18:55
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Initiation
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TDG

TransDigm

$351.43

-5.195 (-1.46%)

18:54
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HII

Huntington Ingalls

$240.82

-2.5 (-1.03%)

18:54
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RTN

Raytheon

$194.92

-2.66 (-1.35%)

18:53
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Raytheon initiated  »

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