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GGP’s stock on the move – upward

Construction proceeds last week on The SoNo Collection.

NORWALK, Conn. — Stock prices of GGP, the company building The SoNo Collection, have risen sharply on Tuesday.

The stock was up 15.9 percent as of 3:21 p.m., Seeking Alpha reported.

Bloomberg and Brookfield Asset Management, which already owns 35 percent of GGP), is in preliminary discussions about taking the company private, Seeking Alpha reported.

At 9:59 a.m., Seeking Alpha reported that GGP’s stocks were up 7 percent as there was “chatter floating around about takeover interest.”

CNBC also has a story.

“’It’s perhaps not surprising given the massive [net asset value] discount that Brookfield is considering increasing its ownership [in GGP] or taking the company private,’ Boenning & Scattergood analyst Floris van Dijkum told CNBC,” CNBC reported.

2 comments

Rick November 7, 2017 at 7:02 pm

Brookfield took a stake in GGP as part of an agreement to take the company out of bankruptcy in 2010. It acquired additional GGP warrants in January 2013 and agreed to not increase its stake beyond 45 percent for the next four years.

A representative for Chicago-based GGP said the company doesn’t comment on market rumors. Brookfield declined to comment.

Shares of mall companies have been hit hard as the rise of e-commerce squeezes brick-and-mortar retailers. Store closures are accelerating, pressuring landlords to fill empty space and reinvent shopping centers. The specter of mergers and acquisitions on the horizon could provide a boost to beleaguered mall operators, according to Haendel St. Juste, an analyst at Mizuho Securities USA LLC.

Rick November 13, 2017 at 12:40 pm

Brookfield bid this morning was offering 14 billion to buy GGP stock is rising like hot day in June. Share holders are convinced GGP has to sell to save the assets.

as if that was big news

channel 12 Altice’s deal bingeing in recent years has pushed its debt load to 50 billion euros, or about $58 billion. That is more than five times its earnings before interest, tax depreciation and amortization–and far higher than most traditional telecom companies. seems to be in trouble surfacing over the weekend.

Takje your pick they both seem to be losing the shirt of their back.

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