UPDATE: United Kingdom mall owner rejects Simon bid
Capital Shopping Centres Group Plc, the United Kingdom’s biggest shopping mall owner, turned down Simon Property Group Inc.’s $4.6 billion bid, describing it as “inadequate.”
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Simon bids $4.6B for U.K.’s Capital Shopping
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
Simon’s options for Capital Shopping takeover dwindling
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
British mall owner rejects Simon financing plan
Capital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have given potential suitor Simon Property Group Inc. a larger stake in the company.
Simon may drop interest in Capital Shopping Centres
Indianapolis-based Simon Property Group Inc. will end its interest in buying Capital Shopping Centres Group Plc if the U.K. company doesn’t provide information necessary to evaluate a bid.
Simon Property offers to settle dispute over widow’s stake
Simon Property Group Inc. has offered to settle a lawsuit with Bren Simon by cashing out 6.5 million partnership units her late husband Melvin held in the giant shopping mall developer.
Simon widow’s attorneys want judge to step down
Attorneys for Bren Simon turned their ire toward a Hamilton County judge on Tuesday, asking him to recuse himself from a legal battle over real estate magnate Melvin Simon's $2 billion estate.
Possible Simon bid boosts British mall owner’s stock
Shares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
Simon CEO: Mall owner has ‘firepower’ for deals
Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said Tuesday.
Feds require Simon to sell outlet centers
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
Simon rival General Growth exits Chapter 11
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
Judge: Bren Simon can take some distributions from estate
A Hamilton County judge will allow Bren Simon to take about $3.3 million per year of the estimated $43 million in annual dividend and interest income from her late husband's estate.
Simon’s quarterly results slip, but profit, revenue rise
Simon Property Group Inc., the largest U.S. shopping-mall owner, said third-quarter profit declined from a year ago after the company recorded an expense to buy back debt.
Judge OKs General Growth’s restructuring plan
General Growth Properties Inc. said Thursday a bankruptcy judge has approved its reorganization plan, clearing the way for the Simon Property Group rival to emerge from Chapter 11 bankruptcy protection early next month.
REITs use stock sales to grow after paying debt
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
Indiana Convention Center might need yet another expansion
The current expansion has absorbed the last of the adjoining space, leaving the convention center landlocked.
Simon, former executive settle fraud suit
Mark Palombaro, a former senior vice president of development, will pay the company $766,000, settling a lawsuit that accused him of getting kickbacks on construction contracts.
Simon sees improving retail conditions, analyst says
Simon Property Group Inc. said retailers
leasing space in its malls have managed to weather the economic downturn and are already eyeing recovery plans for when the
economy improves.
Simon Property wraps up $2.3B outlet mall acquisition
Under the terms of the deal, Simon paid about $700 million for the owners’ interests in Baltimore-based Prime Outlets and
assumed $1.55 billion of Prime’s debt and preferred stock.
New Jersey project enriched Simons
The battle over the estate of Melvin Simon has thrown a spotlight on a New Jersey development project that, by itself, has
made many Simon family members multi-millionaires.