A reassuring take on recent GGP rumors

Todd Sullivan talks about Simon's next rumored bid for GGP

By Wall Street Media on MSN Money Mar 23, 2010 4:21PM

Written by Douglas Estadt


Rumors are again swirling around General Growth Properties. The latest one floating around is that Simon Properties is preparing another lowball bid around $13 for GGP shares.  Todd Sullivan from http://ValuePlays.net helps us with reasons to not take this too seriously:

 

  • $13/share is $3 less than GGP's price at its lowest point today
  • People want these properties, so it's hard to see shareholders selling out for such a low bid
  • Other, more serious potential bidders are taking action as we get closer to  deadlines
  • Regardless if this low-ball materializes, many others will bid for these assets

 

For more with Todd on GGP, see the video below

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