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General Growth Properties, Inc Message Board

  • be_careful_outdere be_careful_outdere Aug 23, 2012 7:09 PM Flag

    "Futile Attempt" RBC Analyst

    IN WSJ: Rich Moore, an analyst at RBC Capital, said Mr. Ackman's call for a
    sale is a futile attempt to get out of his stake in GGP. "I think it's
    absolute nonsense," he said. "I think Ackman wants to sell his shares
    and is looking for the best way out."

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    • k

      Biff

    • <<IN WSJ: Rich Moore, an analyst at RBC Capital, said Mr. Ackman's call for a
      sale is a futile attempt to get out of his stake in GGP. "I think it's
      absolute nonsense," he said. "I think Ackman wants to sell his shares
      and is looking for the best way out.">>

      It sounds like "Rich Moore" missed his chance to get even "more rich" by not having the vision to see the value of GGWPQ and the future value of GGP, HHC and RSE, plus increasing dividends!

      Rich Moore can only wish he knew what Bill Ackman was thinking and is now thinking!

      Biff

    • Bill Ackman will wring out every penny of profit in his investments ,as he should for his investors. He has been a friend of the common shareholder since the beginning in keeping us whole. His beef with Bam is not a way out of this investment as he knows there is great upside to this stock. If the situation were to continue as it were, Bam would become the majority shareholder and possibly take the company private or at the very least have the small shareholders at their mercy. Now as we have seen, Bam will no longer participate in the stock reinvestment program and limit their interest to 45% as was agreed upon leaving BK. We all owe Bill a thank you for his insight and the rise in the share price. What will come from his accusations of Bam and Sandeep will play out in the future but we can already see that Bam has stepped back . I guess Bill has slammed the cookie jar shut!

      • 1 Reply to paparetire
      • Stepped back?? Apparently, they have other intentions. That press release stating they were not looking to take over GGP was to shut Billy boy up. Billy is just playing the stock now. He needs to make up for his big mistake with JCP. GGP at 50 cents a share may have been projected as a 15-20 bagger but his dreams of JCP doing the same from 17 dollars is just ridiculous. I wonder how many other companies he going to try and manipulate to make up for THAT failure.

    • If that was his goal, considering that he bought GGP at $0.50 -$2, if he was selling yesterday, he could have sold 20M of his 72M shares, gotten back his original investment many times over and STILL been the second largest GGP shareholder.

      • 1 Reply to business_technologist
      • Exactly. Ackman is not trying to get the last nickel...his invesment in GGP is already legend. If he wants out, I'm sure BAM could take him out (and already proposed a way to do so, albeit running afoul of certain fiduciary duties...or close to it). Ackman is protesting the stealth takeover of the biz by the BAM scum that is in direct violation of the original agreement coming out of BK. Ackman wants an exit strategy, but one that will give full and fair value (read: a real premium).

    • More from the article:
      "The hedge-fund manager may be using the letter “as a wedge to get out of General Growth,” having made a large enough profit in the investment and wanting to place the money elsewhere, said Rich Moore, an analyst with RBC Capital Markets in Solon, Ohio.
      General Growth’s shares have gained 56 percent in the past 12 months. Pershing Square has a 10.2 percent stake in the company, including stock and warrants, Ackman said in today’s letter.
      Moore said he doesn’t expect General Growth to be sold, and that it probably will continue to be an independent, publicly traded real estate investment trust."

    • I agree.

 
GGP
24.08-0.22(-0.91%)Jul 24 4:02 PMEDT

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