A reassuring take on recent GGP rumors
Todd Sullivan talks about Simon's next rumored bid for GGP
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 belowTo have some of your risk capital autotraded for you on Covestor Investment Management, see my model here.
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