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Thursday, August 23, 2012

Squabble At The Mall - Ackman Takes On Brookfield


Another Canadian company is caught in a showdown with Bill Ackman, as Brookfield Asset Management Inc. faces off with the activist investor over the fate of one of the biggest shopping-mall owners in the U.S.
Mr. Ackman, best known in Canada for his successful campaign to turf the CEO and several board members of Canadian Pacific Railway Ltd. this year, wants the mall operator, General Growth Properties, to put itself up for sale to stymie what he says is a creeping takeover by the Toronto company. Brookfield owns 40 per cent of GGP; Mr. Ackman owns 10.

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