Do not know the reliability of this. Could be possible or could be a steaming pile of crap. Just FWIW.
"General CEO Adam Metz will stay aboard during the restructuring, but his tenure looks shaky. The board has begun to call in a new long-term management team. Already, two Simon execs have answered the call."
So, Putting in two Simon Execs tells us that...???
Board is catering towards Simon?
Something is in the works with Simon?
The board just found two qualified Execs who just happen to work for Simon?
David Simon, a couple of months ago or so, said to the WSJ that he had moved on when asked about his pursuit for GGP. Evidently, he (and a handful of people on this message board) hasn't. The guy mustn't handle rejections very well. He is in for more heartbreaks 'cause GGP is not selling to him - at least not south of $30.
What a fun thread!!!!
There are pieces of truths in virtually each of these posts.
I think we will always speculate about SPG buying the malls of GGP because: (1) they have the financial resources to do so, (2) SPG wants to grow their business and these GGP malls are the best collection of malls in the country that SPG could possibly acquire (Westfield and Taubman have great portfolios, but they will never be for sale), (3) GGP is now controlled by opportunistic investors who are not emotionally attached to the malls or committed to the retail real estate business and will sell their postiion when they beleive they are offered fair value.
I think what also fuels this speculation is the status of Spinco. It was clear that SPG wanted no part of those assets before; so spinning those assets out of GGP only makes the New GGP more attractive to SPG.
I never thought the anti trust issue was a deal breaker just something that was used by Management and the Hedgies to push SPG aside. I am sure SPG would agree not to acquire the centers where anti trust issues were a concern of the Feds, and a likely buyer of those centers could be BAM as they establish their retail platform.
All wild speculation, but I think we should get used to it. A few months ago, I started a thread saying that SPG will always be watching over GGP, waiting for the time when the Hedgies are ready to cash out. That has not changed.
I think the future of these assets is either in the SPG portfolio, or as the assets of BAM's retail portfolio. It will be up to either one to pay the Hedgies the fair value that they beleive these assets are worth. We will have to wait and see and just ride the coattails.
What a Tell!
Mr. Simon has that Big Wad of Cash burning a Hole in his Pocket.
You can bet he will make another run at us.
What else is he going to do with all that $$$$?
This time he better not screw around and play any games - Make a Fair offer that everyone will accept.
If not that will be it.
Mr. BIG BUCKS won't leave this one alone!
Quite a few thoughts and ideas being battered around here. The new GGP is much more attractive at emergence than it was when Simon's last bid but problems still exist for SPG to acquire GGP. Ftc, cost of purchase,credit down grade, redundant mall coverage (costs) and let's not forget the debt is still with GGP, just at better terms ( if Simon were to purchase GGP the debt could cripple SPG in a downturn). Also remember, Brookfield hasn't done all this work just to hand it over to David (and theres no love lost there either)! I doubt if Simon wants to partner for the new GGP, unless he can get some sucker to take the lesser malls. He can speak "tongue in cheek" at functions but he is between a rock and a hard place to take the new GGP anytime soon. I think his only hope is to hope GGP emerges and fails.His failed attemps in the past will follow him for quite some time.
I think the talk of Simon or anyone else making a bid is just that,talk!
After all we longs have been through, I'll be content to stand by for awhile! Theres alot more to be made on this stock.
Hey Roger, That "$20" you just posted is a lot higher than your $15-$18 you just posted prior to the $20! What happened in the intervening moments before your $20 post??? Did the Thai babe change your mood for the better???!!!???