Retailers are feeling pangs of optimism at an opportune time for the developers and real estate brokers who rely on them
for survival: The year’s biggest retail real estate gathering is May 23-25 in Las Vegas.
Analysts predict Simon Property Group Inc. will pay off debt and wait patiently for its next opportunity after withdrawing
separate offers to either acquire General Growth Properties or finance its exit from bankruptcy. A New York judge had endorsed
a rival plan that allows General Growth to stay independent.
General Growth Properties Inc. rejected Simon Property Group Inc.’s “best and final” offer.
Simon Property says its latest offer is worth $6.5 billion, or $20 a share, for General Growth. It had last offered $18.25
a share.
General Growth said the hearing before U.S. Bankruptcy Judge Allan Gropper has been moved from Wednesday to Friday.
The latest proposal is the Indianapolis-based company’s third attempt to buy or gain a piece of the No. 2 mall owner.
General Growth Properties Inc. plans to back a revised bankruptcy exit plan proposed by Brookfield Asset Management Inc. over
a competing offer by Simon Property Group Inc.
Some retail tenants of outlet malls are concerned about Simon gaining too much market power should its acquisition of Prime
Outlets be approved.
Simon Property Group and Blackstone Group LP are in “ongoing discussions” for an investment in General Growth after the mall
operator turned down a $10 billion takeover bid from Simon in February, CEO David Simon said.
Texas-based Tilt Family Entertainment acquires GameWorks chain, which closed last month, leaving gaping hole on fourth floor
of mall.
Bid to invest in General Growth Properties would give Simon too much control over its biggest competitor, said
fund manager Bruce Berkowitz, who’s backing a rival plan.
General Growth Properties Inc. is seeking a higher price, fewer stock warrants or both from Brookfield Asset Management Inc.
after its bankruptcy exit plan was matched by Simon Property Group Inc.
Simon Property Group upped its offer for rival General Growth Properties Inc., pledging to invest $2.5 billion in a reorganization
and match the terms of a bankruptcy exit plan led by Brookfield Asset Management Inc.
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall’s fourth floor, which has struggled
for years to
keep tenants.
The provision would give General Growth time to explore a takeover bid from Simon Property Group Inc., whose $10 billion offer
was turned down by its rival in February. Simon is preparing a new bid, according to a person with knowledge of that plan.
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property
Group Inc. and Brookfield Asset Management Inc.
Elliott Associates LP and Paulson & Co. are said to be discussing a plan to team with Brookfield Asset Management Inc. to
bring mall owner General Growth Properties Inc. out of bankruptcy, competing with Simon Property Group.
Evansville-based shoe and apparel retailer reports strong sales of boots and athletic footwear.
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth
Properties Inc. as early as this week.
