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Ackman Not Giving Up Hope On Simon/GGP Merger

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Though both REITs have publicly expressed a profound indifference to each other, hedge fund manager and GGP shareholder Bill Ackman continues to believe that someday things might change.

Speaking at the 8th Annual Value Investing Congress recently, Ackman said he sees Simon Property Group making another bid for GGP, in spite of at least four failed previous attempts.

According to Business Insider:

During his presentation, Ackman said Brookfield Asset Management is getting "creeping control" by increasing its stake in GGP. He noted that if BAM could get its stake to 45% then it will have "de facto" control and that could be harmful to minority shareholders.

To read a complete transcript of Ackman's presentation on REITs, click here.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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