|Bid||16.46 x 900|
|Ask||16.47 x 1000|
|Day's range||16.35 - 17.25|
|52-week range||16.35 - 21.22|
|Beta (5Y monthly)||0.96|
|PE ratio (TTM)||8.18|
|Earnings date||29 Oct 2019 - 03 Nov 2019|
|Forward dividend & yield||1.33 (7.47%)|
|Ex-dividend date||26 Feb 2020|
|1y target est||22.40|
Brand management company Authentic Brands said on Wednesday it and mall owner Simon Property would own 37.5% each of the retailer, while Brookfield Property would buy 25% of the intellectual property and operating businesses. Financial terms of the deal were not disclosed. Forever 21, which has 593 stores in 57 countries, will continue to operate in U.S. and international markets, Authentic Brands said.
(Bloomberg) -- A group including two of Forever 21 Inc.’s biggest landlords has offered to buy the bankrupt retailer for $81 million, a fraction of what the international fashion pioneer was once worth.The consortium of Simon Property Group Inc., Brookfield Property Partners LP and Authentic Brands Group LLC is seeking to buy substantially all of the company’s assets, according to documents filed Sunday in federal bankruptcy court.The so-called stalking horse agreement sets a minimum price for a proposed auction later this month. If no other bidders step forward, the consortium would be declared the winner.The agreement calls for a court hearing on the deal no later than Feb. 13 and court approval by Feb. 18, the documents show. The would-be buyers have the right to close and wind down certain stores and conduct going-out-of-business sales, according to the filing. They’re also entitled to a $4.65 million break-up fee under some circumstances if the sale isn’t completed.Exit StrugglesForever 21 had been in “substantial, round-the-clock negotiations” about the bid, the Los Angeles-based company said in documents filed last week.Bloomberg previously reported that Authentic Brands and Simon Property were mulling a plan to acquire the retail chain. Forever 21 was talking about selling a stake to Simon and its other largest landlord, Brookfield Property Partners LP, before it filed for bankruptcy in September, Bloomberg reported in September. Negotiations broke down and the company had to seek court protection without a reorganization plan in place.The chain has since struggled to raise money to exit bankruptcy, with potential lenders and buyers balking because of poor sales and the founding Chang family’s insistence on maintaining control. Forever 21 recently told suppliers in a letter reviewed by Bloomberg that it’s short on cash and that it could be forced to liquidate if a buyer doesn’t emerge.As part of the stalking-horse bid, the potential buyers deposited almost $13.5 million in connection with the sale, and any competing bids would have to deposit 10% of the cash purchase price up front, according to court filings.The case is Forever 21 Inc., 19-12122, District of Delaware (Delaware).(Adds new timeline and buyer deposits starting in fourth paragraph)\--With assistance from Jeremy Hill.To contact the reporter on this story: Eliza Ronalds-Hannon in New York at email@example.comTo contact the editors responsible for this story: Nikolaj Gammeltoft at firstname.lastname@example.org, Rick Green, Shannon D. HarringtonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Allied Esports Entertainment (NASDAQ: AESE), a global esports entertainment company, today announced that Brookfield Property Partners (NASDAQ: BPY), one of the world’s premier real estate companies, will become a shareholder of the company through a $5 million equity investment.
Brookfield Property's buyout of the REIT was complicated and bold. A year later, other economic headwinds have kept the company from benefiting.
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Texas Instruments, Brookfield Property Partners, and Intel are leaders in their respective industries and have track records of consistent dividend increases.