Another Bill Ackman GGP Presentation

I don’t have anything new to say about General Growth Properties (GGP). Simon Property Group (SPG) is sticking to their guns, according to reports, and does not plan to bid on GGP again. The market continues to value the stock below the $15 per share that it is being recapitalized at. Bill Ackman continues to be very long the stock, and to believe that GGP is worth about $15 per share and GGO is worth at least $5 per share – $20 total, or about 42% above the current market price. The GGP stuff starts on page 13 if you’re interested. Good luck.  Hat tip to the always excellent Market Folly.

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Disclosure: Long GGP

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Tagged as: Bill Ackman, General Growth, GGP, Ira Sohn, market folly, Simon Property Group, SPG