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Brookfield’s $15B Acquisition Approved by GGP Shareholders
Shareholders of Chicago-based GGP Inc. approved the proposed $15-billion acquisition of GGP by Brookfield Property Partners L.P. at a special meeting of GGP stockholders. All the other proposals voted upon at the meeting and identified in GGP’s definitive proxy statement, filed June 27, 2018, were also approved.
GGP’s stockholder approval was a condition to the closing of the transactions contemplated by the Merger Agreement, including the payment of the previously announced special dividend to certain common stockholders of GGP. Brookfield’s shareholders had already approved the deal.
The completion of the deal remains subject to certain other customary closing conditions. GGP and Brookfield, the real estate unit of Toronto-based Brookfield Asset Management Inc., expect the acquisition transaction to be completed next month.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
