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Stock Market & Financial Investment News

News Breaks
January 28, 2013
17:54 EDTGGPGeneral Growth purchases warrants held by Blackstone and Fairholme
General Growth Properties announced the purchase of warrants held by affiliates of The Blackstone Group (BX) and Fairholme Funds for approximately $633M. The company will fund the transactions using its available cash resources. The warrants were exercisable into approximately 52M common shares of the company at a weighted average exercise price of approximately $9.37 per share. The warrants were scheduled to expire in November 2017. Effective with these transactions, Blackstone and Fairholme no longer hold any warrants to acquire the company's common shares. In addition, pursuant to an offer previously made by Brookfield Asset Management to the company, the independent members of the company's board decided not to purchase the warrants recently acquired by Brookfield from affiliates of Pershing Square Capital Management. Brookfield is now the sole holder of the Company's remaining outstanding warrants which are currently exercisable into approximately 83M common shares of the company at a weighted average exercise price of approximately $9.53 per share.
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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