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General Growth Properties, Inc Message Board

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  • hawkstang hawkstang Apr 28, 2010 7:19 AM Flag

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

    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

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