NEW YORK, March 27, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of GGP Inc. ("GGP" or
the "Company") (NYSE: GGP) in connection with the proposed
acquisition of the Company by Brookfield Property Partner L.P.
("BPY") (NASDAQ: BPY). Under the terms of the acquisition
agreement, the Company's shareholders can elect to receive
$23.50 in cash, or either one BPY
unit or one share of a newly created U.S. REIT, subject to
proration, for each share of GGP they own.
WeissLaw is investigating whether GGP's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the per-share offer is $11.00 less than the analyst target price of
$34.50.
Additionally, various analysts are calling for the rejection of
the proposed agreement as they expected the offer to be well above
$24.00 per share. Analysts with
BTIG LLC wrote that they believed the offer to be "wholly
inadequate," and significantly below estimates of $28.06 to $32.93.
Given these facts, WeissLaw is investigating whether GGP's
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
GGP shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/ggp-inc/
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SOURCE WeissLaw LLP
