Energy News / Shareholders Foundation, Inc.

NYSE:GGP Investor Alert: Investigation over Possible Wrongdoing in Acquisition of GGP Inc

Via: ReleaseWire

Updated 11:15 AM CDT, Tue, April 17,2018

An investigation on behalf of investors of GGP Inc. (NYSE: GGP) in connection with the proposed takeover was announced and NYSE: GGP stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 04/17/2018 -- An investigation was announced for investors, who currently hold shares of GGP Inc. (NYSE: GGP), was announced concerning whether the takeover of GGP Inc. is unfair.

Investors who purchased shares of GGP Inc. (NYSE: GGP) and currently hold any of those NYSE: GGP shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of GGP Inc. breached their fiduciary duties owed to NYSE: GGP investors in connection with the proposed acquisition.

On March 26, 2018, Brookfield Property Partners L.P. (NASDAQ:BPY) (TSX:BPY.UN) and GGP Inc. (the "Special Committee") announced that Brookfield Property Partners L.P. and GGP Inc. (NYSE:GGP) have entered into an agreement for Brookfield Property Partners L.P. to acquire all of the outstanding shares of common stock of GGP Inc other than those shares currently held by BPY and its affiliates.

In the transaction, GGP Inc shareholders will be entitled to elect to receive, for each GGP Inc common share, either $23.50 in cash or either one Brookfield Property Partners L.P. unit or one share of a new Brookfield Property Partners L.P. U.S. REIT security, subject to proration based on aggregate cash consideration of $9.25 billion.

However, given that at least one analyst has set the high target price for NYSE: GGP shares at $34.50 per share, the investigation concerns whether the offer is unfair to NYSE: GGP stockholders. More specifically, the investigation concerns whether the GGP Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

On April 16, 2018, NYSE: GGP shares closed at $19.77 per share.

Those who are current investors in GGP Inc. (NYSE: GGP) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nyseggp-investor-alert-investigation-over-possible-wrongdoing-in-acquisition-of-ggp-inc-964109.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com