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General Growth Properties, Inc Message Board

  • hawkstang hawkstang Mar 9, 2010 6:37 AM Flag

    Ackman's Next Move............

    My take on Ackman's resignation is that it now allows him to talk directly to potential buyers like SPG.
    In fact, I would expect that since his resignation was effective yesterday, he may have even met with David Simon last night or sometime today.

    No-one buys this Company without Ackman and Berkowitz approval. I beleive together they will control over 50% of the equity under this new plan. They have successful nullified John Bucksbaum. And they have put the Board into a position where if they walk away, they are vulnerable to SPG.

    By resigning from the Board Ackman will be actively out there soliciting the Company for sale. (And that is a good thing)

    It is becoming more clear each day that this group has no real interest in owning this Company long term. They are deal makers and this is just another deal in their normal operation. Whether it's a mall operator, a payroll processor, a retailer, it really doesn't matter, it's the deal they are chasing, not the operating business.

    GGP's days as an independent operator are numbered!

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