general growth properties
February 16th, 2010
Simon Property Group on Tuesday made an unsolicited $10 billion bid for General Growth Properties, a rival mall operator that is trying to emerge from bankruptcy protection. Bankrupt General Growth Properties (GGWPQ) has been one of the most controversial companies in recent months, as various hedge funders have gone to public battle over the troubled mall property. Investors like Bill Ackman and Whitney Simon Property Group, the world's largest shopping mall operator, wants to buy its General Growth Properties, its biggest competitor, which is currently working its way through bankruptcy. Simon is prepared to pay $7 billion to General