00:22:14 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Brookfield Asset Management Inc
Symbol BAM
Shares Issued 989,863,115
Close 2018-03-27 C$ 50.00
Market Cap C$ 49,493,155,750
Recent Sedar Documents

FP/wire say GGP agrees to Brookfield Asset takeover

2018-03-28 07:45 ET - In the News

The Financial Post reports in its Wednesday edition that as the age of Amazon takes its toll on retailers, mall owners are finding it may be better to meet the challenge with allies. A Bloomberg dispatch to the Post says that GGP Inc., the second-largest U.S. mall landlord, agreed Monday to be taken over by Brookfield Asset Management. The deal follows an agreement in December for Australia's Westfield Corp., which has malls across the U.S., to be acquired by Unibail-Rodamco SE. Mall owners are trying to stay relevant as brick-and-mortar retailers shut down stores at a record pace, buffeted by the rise of e-commerce. Navigating that landscape may be easier with a big investor that sees an opportunity to make properties more attractive to shoppers -- and to take advantage of depressed stock prices. "Consolidation is happening because prices have fallen below the asset values," said Lindsay Dutch, an analyst with Bloomberg Intelligence. "If you believe that malls are not dying, you're buying assets at a discount that will have value into the future." Landlords, including Brookfield and GGP, have been adding "experiential" elements such as restaurants, theatres and gyms as they repurpose their malls.

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