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.
The 20,000-square-foot estate is in the ritzy neighborhood’s most prestigious area,
and boasts eight bedrooms and 16 bathrooms.
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.
David Simon’s $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management
team’s pay declined or remained flat.
Judge William J. Hughes ruled Deborah Simon failed to make her claim with “sufficient specificity.”
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.
Former WellPoint Inc. leader Larry Glasscock has joined the board of directors of the Indianapolis-based real estate giant.
The protective order will allow David Simon and Cynthia Simon-Skjodt access to records, even though they aren’t plaintiffs.
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.
A Hamilton County judge says Mel Simon’s widow can’t cash in partnership units worth more than $500 million.
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
A new plan by mall owner General Growth Properties Inc. to exit bankruptcy resolves some uncertainty rival bidder Simon Property
Group Inc. has criticized, Simon CEO David Simon says.
Parties disagreed over public disclosure in the first major court hearing in the dispute over how to divide the billionaire's
fortune.
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered
to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
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.
Billionaire mall developer Melvin Simon wanted to leave the Jewish Federation of Greater Indianapolis $10 million, but it
could be up to his widow, Bren Simon, whether to fulfill that wish.
