This was an absolutely fascinating interview with Bill Ackman and Sam Zell discussing GGP. Ackman’s investment in GGP has been nothing short of extraordinary and Sam Zell is one of the best in real estate. Their dialogue concerning whether Brookfield Asset Management (BAM) has control of GGP or not is really compelling. Ackman is pretty shrewd and I don’t think he will give up GGP on the cheap. One conern I’d have is getting Simon Property Group (SPG) stock which is quite expensive. Granted there would be some compelling synergies to a merger of SPG and GGP, but if I were a shareholder in GGP that would be something I’d be very curious about.
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