Tuesday, March 9, 2010

Count de Monet....de MONET....

Sorry but I cannot resist the somewhat obscure reference to Mel Brooks' History of the World Part I.  But Mel was right and Harvey Korman was wrong: it IS Count the Money.

And that's what William Ackman and Pershing, and the folks at Fairholme are doing by offering a combined $6.5 billion equity infusion. (Here is the press release.) As major creditors and shareholders, I guess they "value" company at $15 per share, meaning they see even more room on the upside.  Of course, for Ackman, who resigned from the Board as a result of this offer, I cannot even count how much coin he stands to make, as he bought at the bottom. I also thought I read that Ackman valued GGP at more than $15 (see this analysis from last month, e.g.)

Who makes the next move? And what will it be?


iskate said...

Really good article, there are really many ways and strategies of making money online.

Best Attorney