General Growth Properties is seeking a higher price, fewer stock warrants or both from Brookfield Asset Management after its bankruptcy exit plan was matched by Simon Property Group Inc., a person with knowledge of the discussions said. General Growth, the second-biggest U.S. mall owner, also is continuing to talk with larger rival Simon, said the person, who asked not to be named because the discussions are private. General Growth needs to decide if it will continue to back Brookfield’s plan before a bankruptcy court hearing on the competing proposals, scheduled for April 29. Simon, whose $10bn takeover offer for General Growth was turned down as too low in February, earlier this week pledged to invest $2.5bn in a reorganization of the company and match the terms of a plan by Brookfield and partners Fairholme Capital Management and Pershing Square Capital Management.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
