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Brookfield inks agreement to acquire GGP for $9.25 billion plus stock

Brookfield Property Partners L.P. BPY, +1.31% said past due Monday that it had inked a deal to acquire GGP Inc. GGP, +zero.28% for $9.25 billion in cash, in addition to 254 million shares. Brookfield inventory is down lower than 1% in past due trading, while GGP shares rose three.three%. GGP shareholders can elect to obtain $23.50 per share in cash, a share of Brookfield, or a share of a new U.S. actual estate funding trust. Brookfield inventory has fallen 13% this yr, as the S&P 500 index SPX, +2.72% has fallen lower than 1%.