Der har længe været snak om at den næste boble i USA vil være indenfor commercial real estate. Nu er der så noget M/A-aktivitet på vej, hvor Simon Malls vil købe en konkurrent(General Growth)i en 10mia usd-deal og gå fra 15 til 30% markedsandel på hele Mall-området i USA.... og heraf 60% på Class-A (hvad det så end præcist dækker over)
En ganske spændende udvikling - er boblen væk?
Ganske spændende med den pris i hvert fald, for et selskab der pt. er i betalingsstandsning som jeg forstår det.
Vi får at se, nu er det måske kun toppen af poppen der er i spil og hvad med de sidste 70% af Malls'ne?
En ganske spændende udvikling - er boblen væk?
Ganske spændende med den pris i hvert fald, for et selskab der pt. er i betalingsstandsning som jeg forstår det.
Vi får at se, nu er det måske kun toppen af poppen der er i spil og hvad med de sidste 70% af Malls'ne?
17/2 2010 11:31 collersteen 0
26007 Opps, det kunne være man lige skulle smide et link med i sit indlæg...
http://www.cnbc.com/id/15840232?video=1415240351&play=1
Her lidt mere om handlen fra WSJ
http://online.wsj.com/article/SB10001424052748704804204575069081644845898.html?ru=MKTW&mod=MKTW
(iøvrigt dejlig by Simon startede i i 1960)
Og buddet i sin helhed:
http://www.marketwatch.com/story/simon-property-group-makes-10-billion-offer-to-acquire-general-growth-properties-2010-02-16
Og General Growth's svar:
http://www.marketwatch.com/story/general-growth-properties-responds-to-simon-property-group-and-reaffirms-bankruptcy-emergence-process-2010-02-16
http://www.cnbc.com/id/15840232?video=1415240351&play=1
Her lidt mere om handlen fra WSJ
http://online.wsj.com/article/SB10001424052748704804204575069081644845898.html?ru=MKTW&mod=MKTW
(iøvrigt dejlig by Simon startede i i 1960)
Og buddet i sin helhed:
http://www.marketwatch.com/story/simon-property-group-makes-10-billion-offer-to-acquire-general-growth-properties-2010-02-16
Og General Growth's svar:
http://www.marketwatch.com/story/general-growth-properties-responds-to-simon-property-group-and-reaffirms-bankruptcy-emergence-process-2010-02-16
17/2 2010 11:36 collersteen 026008 Der er ihvert fald en der står til at lave KASSEN på den deal på kun et par mdr. Det er sgu godt gået William Ackman.
Simon has been considering a bid for General Growth for months. Under its plan, Simon would use cash or stock to pay off General Growth's unsecured debt. It also would pay $6 a share to General Growth's shareholders. Those shareholders would get the equivalent of an additional $3 a share after a proposed spinoff of General Growth's residential-development division.
Investors expect a sweetened bid from either Simon or from any competing plan General Growth offers for its exit from bankruptcy. On Tuesday they pushed General Growth's stock up $2.62 to $12.02?more than $3 above the offer price?in 4 p.m. trading on the so-called Pink Sheets electronic trading system.
Mr. Bucksbaum and his family trust own roughly 23% of General Growth's shares. But the company's board includes directors with different backgrounds and motives, potentially complicating its deliberations.
One wild card is activist investor William Ackman, whose hedge fund bought roughly 25% of General Growth's stock late last year through direct purchases and swap contracts with investment banks.His Pershing Square Capital Management LP made most of those purchases while General Growth's stock was trading for less than $2. He was added to General Growth's board last June.
"You have a mercenary, a profit-motivated owner of 25% of the company in Bill Ackman," said Jim Sullivan, an analyst with real-estate specialist Green Street Advisors Inc. "And you have a 25% owner in the Bucksbaum family that has deep emotional ties to this company and its assets. That's the setting for a very interesting board discussion."
Et klip fra WSJ-artiklen:
Simon has been considering a bid for General Growth for months. Under its plan, Simon would use cash or stock to pay off General Growth's unsecured debt. It also would pay $6 a share to General Growth's shareholders. Those shareholders would get the equivalent of an additional $3 a share after a proposed spinoff of General Growth's residential-development division.
Investors expect a sweetened bid from either Simon or from any competing plan General Growth offers for its exit from bankruptcy. On Tuesday they pushed General Growth's stock up $2.62 to $12.02?more than $3 above the offer price?in 4 p.m. trading on the so-called Pink Sheets electronic trading system.
Mr. Bucksbaum and his family trust own roughly 23% of General Growth's shares. But the company's board includes directors with different backgrounds and motives, potentially complicating its deliberations.
One wild card is activist investor William Ackman, whose hedge fund bought roughly 25% of General Growth's stock late last year through direct purchases and swap contracts with investment banks.His Pershing Square Capital Management LP made most of those purchases while General Growth's stock was trading for less than $2. He was added to General Growth's board last June.
"You have a mercenary, a profit-motivated owner of 25% of the company in Bill Ackman," said Jim Sullivan, an analyst with real-estate specialist Green Street Advisors Inc. "And you have a 25% owner in the Bucksbaum family that has deep emotional ties to this company and its assets. That's the setting for a very interesting board discussion."
Et klip fra WSJ-artiklen:
