Pershing Square, Brookfield Spar Over Mall Operator Sale

Law360, New York (August 24, 2012, 2:27 PM EDT) -- Hedge fund Pershing Square Capital Management LP on Thursday urged the board of Chicago-based mall owner General Growth Properties Inc. to consider a sale to prevent majority owner Brookfield Asset Management Inc. from a "creeping takeover" that Brookfield denied it was planning.

Brookfield has been dragging its feet on a proposed transaction to acquire GGP, keeping the company from completing a potentially more beneficial deal with Simon Property Group Inc., Pershing Square investor William Ackman said in a letter to the board filed with the U.S....
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