GGP: Not For Sale

After all the brou-ha-ha surrounding the potential for a Simon/GGP merger set off by GGP shareholder Bill Ackman, the REIT revealed it has no intention of putting itself up for sale, according to Bloomberg BusinessWeek:

“The board has unanimously determined that the best value for all shareholders will be achieved by GGP continuing to execute on its well-conceived business plan,” Sandeep Mathrani, General Growth's chief executive officer, said in a letter to Ackman, founder of Pershing Square Capital Management LP. The letter was filed yesterday with the U.S. Securities and Exchange Commission.
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