I suspect at these prices, PASS would rather sell the pieces off one by one. From their point of views they think their assets are worth $x and GGP shares are worth $y. And the gap between the two is widening.
They could do an asset for share swap with any number of companies and would probably be better off doing it when a) FP is proven up b) equity markets have bottomed
I have to shake my head at the shareprice. Market gave no props the the SP when merger was announced but has savaged it on termination. The news wasn't necessarily bad either ... just unexpected. I suspect we will see a similar mentality over the next few weeks which bodes badly for FP no matter how good the result.
GGP Price at posting:
2.6¢ Sentiment: Hold Disclosure: Not Held
