$2.6B Brookfield Deal Would Split GGP Into 2 Parts

By Jesse Greenspan

Law360, New York (February 24, 2010, 7:09 PM ET) -- Mall owner General Growth Properties Inc. announced Wednesday that it had received a $2.63 billion proposed equity commitment from Brookfield Asset Management Inc. as part of a plan to divide the company in two as it exits bankruptcy.

The deal, filed in the U.S. District Court for the Southern District of New York just eight days after GGP rebuffed a $10 billion mostly cash offer from Simon Property Group Inc., purportedly would provide par plus accrued interest to unsecured creditors and would provide existing stockholders with...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles