Bill Ackman is betting big on real estate group General Growth Properties Inc (NYSE:GGP). The Pershing Square Capital Management founder, presented his ideas on the future of the company to a crowd gathered at the 8th Value Investing Congress yesterday.
Ackman's hope for the recently bankrupted real estate investment group, centered on his hopes that a successful bid would be made for the firm by Simon Property Group, Inc (NYSE:SPG). General Growth Properties Inc (NYSE:GGP) went bankrupt in April of 2009. It was the largest bankruptcy of a retail group since 1980.
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