- General Growth Properties (GGP) has repurchased all of Pershing Square's 28M shares in the company for $556M.
- General Growth Properties bought the stock for $20.12 each vs its close yesterday of $20.83.
- The deal comes after Bill Ackman's hedge fund sold 25M shares in the shopping-mall owner in September for $500M.
- Ackman helped rescue General Growth in 2009 by persuading it to file for bankruptcy and then taking part in its subsequent restructure.
- The investment has been one of Ackman's most profitable. In 2011, he told Bloomberg that it "turned $60M into $1.6B." (PR)
From other sites
at Nasdaq.com (Tue, 3:54PM)
at Nasdaq.com (Jan 13, 2015)
at Nasdaq.com (Dec 11, 2014)
at CNBC.com (Dec 5, 2014)
at CNBC.com (Dec 4, 2014)
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