Simpson Thacher is representing the Special Committee of the Board of Directors of GGP Inc. (NYSE: GGP) (“GGP”) in connection with a definitive agreement for Brookfield Property Partners L.P. (NASDAQ: BPY) (“BPY”) to acquire all of the outstanding shares of common stock of GGP other than those shares currently held by BPY and its affiliates. GGP shareholders will be entitled to elect to receive, for each GGP common share, either $23.50 in cash or either one BPY unit or one share of a new BPY U.S. REIT security, subject to proration based on aggregate cash consideration of $9.25 billion. GGP has a market cap of approximately $22 billion and the public shareholders currently own approximately 65% of it.
GGP Inc. is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States.
The Simpson Thacher team includes Alan Klein, Jakob Rendtorff, Mark Viera, Sung Jin and Katherine Smith (M&A); Gregory Ressa, Krista Miniutti and Kat Christoforatos (Real Estate); Nancy Mehlman and Pierce Pandolph (Tax); Greg Grogan and Alina Grinman (Executive Compensation and Employee Benefits); Andy Keller, Roxane Reardon and Lia Toback (Capital Markets); and Alden Millard and Eli Isak (Banking & Credit).