While Simon and General Growth did talk, General Growth was against a combination and Simon dropped its pursuit.
In a regulatory filing today, Ackman said he no longer believes General Growth should consider a sale. Brookfield Asset Management Inc., another General Growth investor, also amended its governance arrangements with the mall owner. Ackman had been critical of Brookfield’s position at General Growth.
Shares of General Growth were down 2.9 percent to $19.46 Thursday on Wall Street.
Ackman continues to hold stakes in J.C. Penney Co. Inc. and Procter & Gamble Co.