Galleria parent jumps after hedge fund investment – Struggling General Growth Properties Inc., owner of the St. Louis Galleria and 200 malls nationwide, rallied Tuesday after disclosing an investment from hedge fund manager Pershing Square Capital Management LP.

General Growth stock nearly doubled in morning trading.

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.

Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , . Bookmark the permalink.

Comments are closed.