It should limit David Ackman's interference with GGP. It looks like he's realized that his recent demands have had practically no effect, and he's better off taking profits that don't change his holdings than he would be getting out.
I'm hoping that it will end complaints for the next year or so, that GGP is being run to grow and prosper instead of being beautified for a forced marriage.
Hopefully it will make all those weak-end speculators, the ones who bought GGP because they thought some other company would gobble it up for a premium price, rethink their positions, and sell their shares to folks who believe GGP is a better investment as a standalone company than as part of over-priced SPG.
I would say todays news is further evidence that BAM is committed to GGP for the long term and that, in my opinion, is a good long term thing.
It will also fuel the speculation that BAM is working toward gaining real control of GGP by owning more than 50%, perhaps that moves the stock somewhat.
Those looking for a quick short term profit by hoping that Ackman could cause a sale and thus a run up in the price are probably going to be disappointed because that is now less likely to happen.
The sizzle in the stock occurred between $.38 per share to $20 per share. It is now a core holding which should return 6%-10% per year with a 3%-5% current divi. Not the kind of thing that keeps the interest of a titan like Ackman, but BAM will love it and so will the conservative investors who invest in the stock.