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GGP: Not For Sale

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After all the brou-ha-ha surrounding the potential for a Simon/GGP merger set off by GGP shareholder Bill Ackman, the REIT revealed it has no intention of putting itself up for sale, according to Bloomberg BusinessWeek:

“The board has unanimously determined that the best value for all shareholders will be achieved by GGP continuing to execute on its well-conceived business plan,” Sandeep Mathrani, General Growth's chief executive officer, said in a letter to Ackman, founder of Pershing Square Capital Management LP. The letter was filed yesterday with the U.S. Securities and Exchange Commission.

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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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