Canadian Business – Toronto’s Brookfield Asset Management Inc., the largest shareholder of General Growth Properties, is squaring off against a U.S. activist hedge fund that wants the U.S. mall owner to put itself up for sale.
New York hedge fund Pershing Square Capital — which successfully overhauled management at CP Railway (TSX:CP) earlier this year — filed a letter Thursday asking GGP’s board of directors to form a special committee, independent of Brookfield directors, to consider the sale of the company, which has successfully emerged from bankruptcy.
