Blockbuster mall deal: General Growth Properties receives $14.8 billion bid

Brookfield Property Partners LP confirmed Monday it has made a $14.8 billion offer to buy the shares of mall owner GGP Inc. that it doesn't already own. Brookfield Infrastructure operates high quality, long-life assets that generate stable cash flows, require relatively minimal maintenance capital expenditures and, by virtue of barriers to entry and other characteristics, tend to appreciate in value over time. About 60,507 shares traded. On November 3 Canaccord Genuity left the stock rating at "Buy" projecting a price of $28.00. Credit Suisse Group lowered Brookfield Infrastructure Partners from an "outperform" rating to a "neutral" rating and set a $44.00 price objective for the a research note on Tuesday, August 22nd. Current price places the company's stock 2.72% away from its 200-day simple moving average, 0.06%, away from the 50-day average and also -0.77% away from 20-day average.

GGP's share prices immediately jumped this morning on news of the offer, trading at about $23.65 in mid-morning. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock of GGP Inc (NYSE:GGP) earned "Buy" rating by Stifel Nicolaus on Sunday, September 24. TheStreet downgraded the stock to "Sell" rating in Friday, October 23 report. Brookfield Renewable Partners L.P. has a 1 year low of $26.61 and a 1 year high of $36.00. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $6,057.88, a P/E ratio of 98.67 and a beta of 0.89. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of global copyright & trademark laws. The original version of this article can be viewed at Brookfield Renewable Partners L.P. posted earnings of ($0.16) per share in the same quarter last year, which indicates a positive year over year growth rate of 106.3%. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued. That brought its ownership stake to 34 per cent of GGP. Date of activity: November 11,2017. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.50%. Brookfield Renewable Partners L.P.'s payout ratio is -1,558.20%.

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Authentic sources have quoted that in 2010, Toronto-based Brookfield Inc. had invested in the Chicago-based GGP a part of the deal to bring the firm out of bankruptcy.

Separately, GGP confirmed that on November 11, 2017, it received an unsolicited proposal from Brookfield Property Partners L.P. for BPY to acquire all of the outstanding shares of common stock of GGP other than those shares now held by BPY and its affiliates. Guardian Capital Advisors LP now owns 57,771 shares of the utilities provider's stock valued at $2,372,000 after buying an additional 1,546 shares during the last quarter. Finally, Guardian Capital Advisors LP grew its stake in shares of Brookfield Renewable Partners 2.7% during the second quarter. Finally, Jarislowsky Fraser Ltd purchased a new position in Brookfield Property Partners L.P. during the third quarter worth approximately $239,000. Bollard Group LLC now owns 3,681 shares of the utilities provider's stock worth $151,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 58.38% of the company's stock. As of December 31, 2016, the Company owned, either entirely or with joint venture partners, 127 retail properties located throughout the United States comprising approximately 125 million square feet of gross leasable area (GLA).

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