Tuesday, November 25, 2008

Hope For General Growth?

The owner of the mall saw its stock tick up today after disclosing that it had received a sizeable investment from hedge fund Pershing Square Capital Management, according to the Washington Business Journal.

New York-based Pershing Square Capital bought 20.1 million shares of General Growth Properties stock this month, giving it a 7.5 percent stake in the company. It also has options on an additional 33.4 million shares for a total of a nearly 20 percent stake.

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