GGP spin off - Howard Hughes Co

[stahleyp]

I recall Ackman saying that he would spin off part of GGP and that he estimated it would be worth about $5 a share. Is this the company he was referring to?

 

http://moneycentral.msn.com/detail/stock_quote?symbol=HHC*&ww=1

 

That's a bit higher than $5!

[gfp]

I think he was referring to $5 in value to holders of GGP pre spin.  Old GGP shareholders get .0983 shares of Hughes (spinco) per GGP share.  This spin off caused all types of problems for me with Interactive Brokers.  They don't issue partial shares and it messed up IB's entire trading system for me.  Errors everywhere last week.

 

So $38 * .0983 is less than 5 still.

[stahleyp]

I think he was referring to $5 in value to holders of GGP pre spin.  Old GGP shareholders get .0983 shares of Hughes (spinco) per GGP share.  This spin off caused all types of problems for me with Interactive Brokers.  They don't issue partial shares and it messed up IB's entire trading system for me.  Errors everywhere last week.

 

So $38 * .0983 is less than 5 still.

 

ahhhh. makes sense. thanks! :)