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General Growth Properties, Inc Message Board

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  • hawkstang hawkstang Apr 13, 2010 11:47 AM Flag

    Simon is an ass

    Little harsh there Lex. Remember this guy is being advised by JPMorgan and Lazard as well as Wachtell Lipton, collectively some of the best minds in corporate America when it comes to mergers and acquisitions.

    These are all games hoping to force the hands of GGP to do something that gives their team some advantage.

    It will not work, since GGP has assembled its own Dream Team and is matching SPG's team move for move.

    Our original conclusion that this is a very attractive and desirable acquisition for SPG remains in tact.

    I take it as a positive that SPG and GGP attorneys were talking about anti-trust issues as it suggests GGP would not be incurring that cost unless it had some indication that SPG was prepared to offer a respectable price.

    In the end SPG will make its best offer, which I beleive will be better than the current $15 soft offer from BAM/Ackman. Whether it is high enough to win GGP BOD approval is something we shall see.

    Otherwise, all this other stuff is just noise to be ignored.

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    • All of this bantering now it to make his next bid look like his best and final. He will come in in the (very)low 20 range which will look good considering all of the acting/positioning that is going on right now.

      He will argue that his bid is a 30 to 35% premium to today's price. All he is trying to do is keep the price down so that he can make this argument stick. He does not want to talk about how cheap he is buying the assets - he wants to position to talk about how he paying up for the company. Big difference.

      All of these leaks are free and help improve his bid position. He would be crazy not to do what he is doing in the news. It helps him tremendously in the long run. That doesn't mean that we have to like it - he is still a prick!

      • 1 Reply to arbplayer
      • Only a fool would start this thread. SPG is trading mid 80's and has a ballance sheet ggp could only dream of, at this point.

        He will not over pay and is looking for a steal. I would expect Adam to act in the same mannor. With SPG trading mid 80's you can give me that prick any day. If he were running GGP, we would not be in this situation, in the first place. It's about time you reject learn the art of a deal and know when to walk away.

 
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