General Growth plans to split in two to exit bankruptcy
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
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Brookfield after 30-percent stake in General Growth, source says
The plan by Toronto-based Brookfield Asset Management would give General Growth Properties a higher valuation than a $10 billion
takeover bid by Simon Property Group.
Report: Brookfield plans bid for Simon target General Growth
Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
General Growth board sued for rejecting $10B Simon bid
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have
rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
Blackstone may join Simon’s bid for General Growth
Blackstone Group LP, the world’s largest private-equity firm, may join Simon Property Group Inc.’s bid to buy bankrupt
General Growth Properties Inc., according to two people with knowledge of the discussions.
Simon’s $10 billion bid for bankrupt General Growth roils retailing
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.
Millionaire lawyer jumps into Melvin Simon will fight
Mike Ciresi, who’s representing widow Bren Simon, helped win a $6 billion settlement from the tobacco industry.
Simon Property Group urges rival to heed $10B buyout offer
Simon’s warning was delivered in a letter sent to General Growth a day after the company essentially rebuffed Simon’s hostile
takeover bid.
General Growth snubs initial offer from rival Simon
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.
Simon making $10B bet on future of malls
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.
Simon offers $10 billion for General Growth
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation’s largest mall operator.
Herb Simon purchases Kirkus book review journal
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication
book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious
reader.
Indy turns architectural corner
A Ball State architect thinks Indianapolis residents will like what they see in the new J.W. Marriott hotel downtown and beat
drums for more interesting buildings.
UPDATE: Simon shares climb after profit beats estimates
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
Simon Property’s quarterly profit tumbles
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
Simon, partner selling European malls for $981M
Unibail-Rodamco SE, Europe’s biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
Deborah Simon says other potential trustees have conflicts
Melvin Simon’s daughter, who’s seeking to remove her stepmother from overseeing a trust that holds her late father Melvin’s
fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
Simon Property Group enters dispute over founder’s fortune
Simon Property Group Inc. is suing Bren Simon, the widow of company founder Melvin Simon, over her effort to convert part
of her late husband’s ownership stake in the publicly traded mall giant into common shares or cash.
Simon Property accepts $2.3B of notes in offer
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Simon Property Group rolls out $2.25B offering
Proceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.