David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield
Asset Management Inc
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The
Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation’s largest mall owner succeeds
in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt
rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
Wall Street today is cheering Simon Property Group Inc.’s giant bet on the future of retail real estate, a sector that
appeared left for dead just months ago. The nation’s largest mall owner has offered $10 billion to take over its
nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation’s largest mall operator.
New Jersey-based Enzon Pharmaceuticals Inc. has sold its Indianapolis plant that manufactures specialty drugs in a deal that
could top $300 million. The buyer says that the operations, which employ about 100, will remain in the city.
St. Vincent Health is near an agreement to take over The Care Group LLC, the city’s largest independent physician practice
and largest cardiology group in the nation.
An Indianapolis-based grocery wholesaler has purchased the assets of a convenience store supplier in Danville, enabling it
to expand its number of customers to 800 in five states.
These deals had no price tag, but still were significant.
WellPoint’s sale of its NextRx unit was the largest deal in the Indianapolis area in 2009.
Pent-up demand, anticipated thaw in financing might cause business valuations to rise modestly
Commercial Office Environments gets larger with its purchase of Area 4 Office Furniture. Operations of the two companies will
be consolidated at Commercial Office Environments’ facility on Zionsville Road.
Indianapolis-based HP Products Corp. announced Tuesday morning that it has completed its acquisition of Great Lakes Supply and Chemical in Michigan City.
Omnicity makes seventh acquisition since going public in February. The Rushville company aims to be nation’s largest wireless
broadband provider in rural markets.
The Indiana Cooperative Library Services Authority, known as ICOLSA, has merged with the Michigan Library Consortium to form
the Midwest Collaborative for Library Services.
A small Michigan insurer has rejected an acquisition bid from The Steak n Shake Co., describing the offer as a “hostile takeover
attempt.”
After 36 years of flying smaller planes painted in the colors of the major airlines for which it flies under contract,
Republic Airways Holdings in 2009 became a branded airline operator of its own.
The decade witnessed a massive terrorist attack, two wars, and a building-and-buyout boom fueled by easy credit.
The Steak n Shake Co. is taking a dramatic turn away from its core business with a bid to purchase a Michigan insurer in a
deal valued at almost $37 million.
