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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of GGP Inc. (“GGP” or the “Company”) (NYSE: GGP) to Brookfield Property Partners L.P. (“BPY”). Under the terms of the transaction, GGP shareholders may elect to receive $23.50 in cash or either one BPY unit or one share of a new BPY U.S. REIT security for each share of GGP common stock held.
The investigation concerns whether the Board of GGP breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether BPY is underpaying for GGP shares, thus unlawfully harming GGP shareholders.
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