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Stock Market & Financial Investment News

News Breaks
January 3, 2013
06:35 EDTGGPGeneral Growth announces additional information regarding investor transactions
In connection with these transactions, Brookfield advised GGP that Pershing Square delivered certain undertakings to Brookfield relating to GGP. Pursuant to Pershing Square's undertaking to Brookfield, Pershing Square agreed that, for a period of four years Pershing Square will refrain from undertaking any of the types of transactions with respect to GGP that are subject to disclosure under paragraphs (a)-(j) of item 4 of Schedule 13D. Pershing Square has further acknowledged the 9.9% ownership limitation in GGP's certificate of incorporation and agreed not to acquire shares of GGP, directly or indirectly, that would cause its ownership to exceed that limit. Brookfield also delivered a unilateral undertaking to GGP that modifies certain governance arrangements with GGP. Pursuant to such undertaking, Brookfield agreed that, for a period of four years, in connection with any stockholder vote on a change of control transaction recommended by GGP's board, Brookfield and its affiliates will limit their right to vote shares in excess of 38.2% of the then-outstanding Common Stock, Brookfield and its affiliates will participate in future repurchases of Common Stock by GGP so as not to exceed their 45% ownership cap, and Brookfield and its affiliates will not participate in any GGP dividend reinvestment plan unless first requested by GGP's board of directors.
News For GGP From The Last 14 Days
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October 29, 2014
05:37 EDTGGPGeneral Growth, Ashkenazy Acquisition acquire minority interest in MDDA
A joint venture between General Growth Properties and Ashkenazy Acquisition Corporation, or AAC, which specializes in retail properties, has acquired a minority interest in the Miami Design District from Miami Design District Associates, or MDDA, a partnership between Dacra, founded and owned by developer Craig Robins, and L Real Estate, or LRE, a private equity fund dedicated to mixed-use luxury real estate investments. Upon completion of the development’s initial phase in December 2014 and subsequent phase in 2016, MDDA will own/operate 1.2M square feet, with a future expansion that could include an additional 2M square feet.
October 28, 2014
07:30 EDTGGPGeneral Growth outlook positive, says Stifel
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October 27, 2014
16:05 EDTGGPGeneral Growth sees FY14 FFO $1.31-$1.33, consensus $1.32
16:04 EDTGGPGeneral Growth sees Q4 FFO 37c-39c, consensus 38c
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16:04 EDTGGPGeneral Growth reports Q3 FFO 33c, consensus 31c
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15:34 EDTGGPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Amgen (AMGN), consensus $2.11; General Growth Properties (GGP), consensus 31c; Avalonbay (AVB), consensus $2.00; Hartford Financial (HIG), consensus 83c; Universal Health Services (UHS), consensus $1.36; XL Group (XL), consensus 63c; Masco (MAS), consensus 32c; Plum Creek Timber (PCL), consensus 30c; T-Mobile US (TMUS), consensus 2c; Cliffs Natural (CLF), consensus (3c); Twitter (TWTR), consensus 1c; American Capital Agency (AGNC), consensus 73c; DDR Corp. (DDR), consensus 30c; PartnerRe (PRE), consensus $3.66; Owens & Minor (OMI), consensus 47c; Manitowoc (MTW), consensus 42c; Compass Minerals (CMP), consensus 78c; Allison Transmission (ALSN), consensus 30c; Regal Entertainment (RGC), consensus 17c.

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