General Growth Properties (GGP) buys back warrants held by Fairholme Funds and Blackstone for...

|About: General Growth Properties (GGP)|By:, SA News Editor

General Growth Properties (GGP) buys back warrants held by Fairholme Funds and Blackstone for about $633M. The warrants were exercisable into approximately 52M shares at $9.37 each. It's safe to say the warrants - issued as the company exited bankruptcy - were home runs. Brookfield Asset Management (BAM) remains the only holder of remaining warrants - about 83M at an exercise price of $9.53. (PR)