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General Growth Properties, Inc Message Board

  • realt101 realt101 Apr 27, 2010 2:57 PM Flag

    ackman lights FIRE under GGP. NO water. here is video

    no water at all.. he is holding, he is one smart cookie.

    http://www.cnbc.com/id/15840232?video=1478887312&play=1

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    • IMO - if GGP bas bids for approximately 1bln of assets and it is announced that UBS raised 1.9bln through new debt, reducing the dilution under the BAM plan - then we move closer to 20 by September with a true value of the stock to trade up to sitting around $32.

      The wild card here - how many groups bid at the asset level reducing the amount needed by BAM. We will find out within a week.

    • Ackman is very impressive and I would bet he gets to where he wants to be.

      There is no deal for SPG, in my opinion, except for them to buy the whole thing. There is no logical compromise where it makes any sense for them to replace BAM with a bunch of their own institutional partners. NO ONE wants to see SPG in GGP as a minority investor in any capacity.

      I think yesterday's performance by Ack, indeed sent the message to SPG that the door is open for them to buy, but it is to buy the whole thing and they better bring a price that is acceptable to Ack and Bucksbaum. We don't know what that price is, but I beleive that SPG does and it is up to David to meet it or move on.

      Another message I got from Ack yesterday (that I think was directed to SPG) is that he is more than willing to let the BK process proceed and is prepared to wait until Sept when the Company emerges BK. I think he hopes that frustrates SPG even more. For us it may mean don't expect any price changes in the stock between now and then.

      All this is good for us. SPG wants the Compnay. They have the ability to pay a lot more than $15 per share for it, but will not unless it is proven to them that they have to. This is just one way that Ack is showing them that they have to.

      If this Company emerges BK in Sept, without SPG, it is hard to imagine that the stock will not be at $20 by year end 2010.

      Patience will be rewarded

    • Went back and watched the Ackman parting shots video and the bloomberg simon video again.

      Talk about contrast!

      simon is not only failing in his tactics to steal GGP, but he is failing in showing himself as a logical and legitiment purchaser of GGP. His motives are ill conceived and will be painfully evident to the Judge.

      Even if the SPG board ties him up, stuffs a tennis ball in his mouth and makes an offer of $30 per share on his behalf, I just don't see the Judge falling for it, let alone providing the time to deal with the unknown the anti-trust issues.

      The Judge has got to love Ackman as well, he is the chief Architect behind this incredible ordeal. Imagine how the Judge reflects on this, understanding this will be an outstanding part of his legacy. Judge G is not going to blow it now, he way ahead of the curve on this bankruptcy!

      This is another major influencing factor simon fails to comprehend and appropriately address. Whining and low balling and whining some more is only going to make the Judge's decision much easier.

      simonizing at its best!

      BTW, Ackman really looked good..., confident, knowledgeable, on his game, believable, etc. He is the kind of guy that can look you in the eye, unlike that other clown.

    • Thank you. Like others, I missed the live broadcast. This gave me a first hand look to catch up. Excellent work by Mr. Ackman.

    • Thanks for the video. If you listen to the clip I would not necessarily rule out Simon. Ackman says they have been bidding in stages because they did not think they could get the anti-trust issues out of the way quick enough. This tells me that Simon is still very interested and at the right time , assuming he doesn't run out of it he will be back with a SIGNIFICANT OFFER!!!

    • Thanks for the post. Missed it this morning.

    • Thanks for the post as I missed most of it this morning.

    • thanks for posting - this puts everything in perspective. He is not selling unless SPG steps up bigtime. I also think this puts pressure on any other competing bids that they too must step it up because they are not selling out for cheap. He has done all the hard work, recognized the opportunity, worked them out of a hard spot and has lined up an exit strategy. Translation - I am not giving all my hard work away for free. It is still cheap at a higher price for the right buyer, otherwise we will make a double from here.

      I think his comments regarding how well he has done with this investment is a tell to everyone that he doesn't have to sell.

 
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