As the age of Amazon takes its toll on retailers, mall owners are finding it may be better not to confront the turmoil on their own.
GGP Inc., the second-largest U.S. mall landlord, agreed Monday to be taken over by a unit of Toronto-based Brookfield Asset Management Inc. The deal follows an agreement in December for Australia’s Westfield Corp, which has malls across the U.S., to be acquired by Unibail-Rodamco SE. Meanwhile, Macerich Co. and Taubman Centres Inc. have faced pressure from activist investors.
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