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General Growth Properties (GGP) is looking to hire an investment bank, Reuters reports, a week...

General Growth Properties (GGP) is looking to hire an investment bank, Reuters reports, a week after Bill Ackman stepped up pressure on the mall owner to consider putting itself up for sale. It’s not yet known whether GGP is hiring a bank as a defensive move or if it agrees with Ackman, who owns 10.5% of the firm and wants a sale. GGP +1.3% AH.
Comments (1)
  • GGP has been the cherry on top for Simon for quite awhile. He wanted it pre emergence from bankrupcy and didn't get it due to low ball bid. He won't make that mistake again. He has been in talks with Bill Ackman for bidding for GGP and is more real in his bid this time around. My guess is the board is going to open the door for bids.
    6 Sep 2012, 07:08 AM Reply Like
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