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GGP rockets up after Reuters reveals Bill Ackman’s bet on the shares 12.30.2008 The beaten-down stock of shopping mall operator General Growth Properties doubled in less than two weeks after Reuters exclusively revealed the strategy behind prominent hedge fund investor Bill Ackman’s accumulation of shares. No media outlet understood why he was buying the shares, and many speculated that it was a short term bet on General Growth’s chances of refinancing some maturing debt. Reuters exclusively reported on Dec. 30 that Ackman is expecting the company to file for bankruptcy, and expecting stock investors to emerge from Chapter 11 on a good footing Reuters Firsts will need at least flash player 9 to give you the full experience. The latest Flash player can be downloaded here	firsts across any industry Commodities & Energy Energy, metals, agricultural and environmental markets FX & Money Markets Macroeconomics, monetary policy, FX and money markets Politics & Risk Politics and political risk Equity & Derivatives Companies, sectors, M&A and the financial industry Fixed Income Sovereign and corporate debt, credit, and ratings firsts by region Americas View stories from this region Europe / Middle East / Africa View stories from this region Asia View stories from this region Emerging Markets View stories from this region

Equity & Derivatives

Companies, sectors, M&A and the financial industry

GGP rockets up after Reuters reveals Bill Ackman’s bet on the shares

12.30.2008

The beaten-down stock of shopping mall operator General Growth Properties doubled in less than two weeks after Reuters exclusively revealed the strategy behind prominent hedge fund investor Bill Ackman’s accumulation of shares. No media outlet understood why he was buying the shares, and many speculated that it was a short term bet on General Growth’s chances of refinancing some maturing debt. Reuters exclusively reported on Dec. 30 that Ackman is expecting the company to file for bankruptcy, and expecting stock investors to emerge from Chapter 11 on a good footing

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