GGP to exit bankruptcy?
General Growth receives term sheet from Brookfield Asset Management
Written by Douglas Estadt
Todd Sullivan from http://ValuePlays.net shares big news on his long stock-pick GGWPQ. Brookfield Asset Management trumps last week's offer from Simon Properties and have issued a term sheet to GGP. Under these terms:
company will split into 2; 1 with high quality assets, initially priced at $10/share, the other with riskier assets at $5/share
Brookfield will backstop the smaller of the 2 co.'s to guarantee that initial value for current shareholders
existing shareholders will receive share for share of new entity; they'll participate in the upside of the existing GGP shares
In addition, when they come out of chapter 11, GGP will be the 2nd - 3rd largest REIT by market cap. To learn more about Todd's thesis and GGP, view the video below.
To have some of your risk capital autotraded for you on Covestor Investment
Management, see my model here.
Visit Wall Street Media. We feature exclusive insights from the world's leading transparent investors.
Copyright © 2014 Microsoft. All rights reserved.
The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.