Bill Ackman's Activism with General Growth Hot Topic for Most Influential Hedge Funds Conference

Aug. 24, 2012 - PRLog -- (August 20, 2012, New York) Pershing Square Capital Management LP’s Bill Ackman, reports Bloomberg, urged General Growth Properties Inc. to consider a sale after the mall owner’s largest rival and biggest shareholder both said they’re interested in taking it over. This is one of the topics that will be discusses at Hedge Funds Leaders Forum 2012, "Getting Ready to Manage $5 Trillion by 2016"

Pershing Square, General Growth’s No. 2 shareholder, has discussed a takeover of the Chicago-based company with Simon Property Group Inc., according to a letter Ackman filed today with the U.S. Securities and Exchange Commission. Brookfield Asset Management Inc., General Growth’s largest investor, didn’t support the transaction and said it was interested in buying the company itself, according to the letter.

“Our goals are to ensure that a level playing field exists so that Simon, Brookfield and potentially other parties can compete to acquire the company,” Ackman said in the letter. Brookfield should be stopped from “unfairly acquiring control” of General Growth without paying a “premium in a competitively negotiated transaction,” he wrote.

General Growth exited bankruptcy protection in November 2010 following a takeover battle between Indianapolis-based Simon Property, its larger competitor, and an investor group that included Brookfield and Pershing Square. General Growth filed for bankruptcy in 2009 after weighing itself down with $27 billion in debt that it was unable to refinance because of the financial crisis and collapse of the commercial mortgage-backed securities market.

On September 25 in New York, October 9 in Chicago and December 12 in London, hundreds of the most important players in alternative investments will gather for all-star agendas at Hedge Funds Leaders Forum 2012, "Getting Ready to Manage $5 Trillion by 2016".

A virtual who’s who will soon follow as one legendary manager after another will take the stage. Billions of investable assets will be represented by influential local and international investors who will listen with rapt attention as star managers and analysts discuss and debate the biggest issues facing the industry today.

Hedge Funds Leaders Forum 2012, "Getting Ready to Manage $5 Trillion by 2016" will provide attendees in New York, Chicago and London with the most up-to-date review of where this ever-changing industry stands and how regulatory and alpha expectation s will impact it. Recognized managers, investors, experts, regulators, and strategists will return to Hedge Funds Leaders Forum 2012 to provide the information practitioners are looking for in an open and unbiased environment, highly conducive to the most efficient and effective networking.

Hedge Funds Leaders Forum 2012 is produced by Golden Networking, the premier networking community for business executives, entrepreneurs and investors. Panelists, speakers and sponsors are invited to contact Golden Networking by sending an email to info@goldennetworking.net.