Wall Street Manna
An irreverent look at Wall Street
Wednesday, February 17, 2010
General Growth properties rebuffs SImon's offer
Simon Property offered $7 billion for unsecured debt holders, would also assume $21 billion in debt, and offered shareholders $9 a share.
General Growth said not enough. Ackman previously said General Growth is worth $24.
Remember when this stock was .32? As in 32 cents! And then, we were told by the bears that the malls around the country would all be closed?
No-one would, shop, go out to eat, or buy organic at Whole Foods because it was too expensive.
How did that thesis from the bears work out?
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