Owners of General Growth Properties disagree about future course

The owners of General Growth Properties cannot seem to agree whether to sell the company to the largest mall owner in the United States, Simon Property Group, or continue operating as usual.  Bill Ackman, who owns 10.5 percent of GGP, wants to sell the company to Simon; however, Brookfield Asset Management, which owns about 42 percent of the company, does not want to sell.

In a move that may be a defense to Ackman’s pressure, GGP’s board is looking to hire an investment bank.  It is not clear yet what the board wants to do with GGP in the long term.

To read the entire story see “General Growth looks to hire investment bank.”

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