Brookfield won't modify GGP bid

04/21/2010 | Wall Street Journal, The

The Brookfield Asset Management-led consortium will not modify its bid for General Growth Properties to meet rival Simon Property Group's sweetened terms. Specifically, the company won't change its positions on stock warrants. "We will not participate further in any process involving a transaction with GGP unless the approval order is entered and the warrants are issued on the terms and in the timeframe contemplated," according to a letter sent by Brookfield CEO J. Bruce Flatt.

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