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Simon Property Group
Simon's $10 billion bid for bankrupt General Growth roils retailing
February 20, 2010
Cory SchoutenSimon 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.
MoreMillionaire lawyer jumps into Melvin Simon will fight
February 20, 2010
Greg AndrewsMike Ciresi, who’s representing widow Bren Simon, helped win a $6 billion settlement from the tobacco industry.
MoreGeneral Growth board sued for rejecting $10B Simon bid
February 20, 2010
Bloomberg NewsDirectors 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.
MoreBlackstone may join Simon's bid for General Growth
February 19, 2010
Bloomberg NewsBlackstone 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.
MoreGeneral Growth snubs initial offer from rival Simon
February 17, 2010
Cory SchoutenSimon 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.
MoreSimon making $10B bet on future of malls
February 16, 2010
Cory SchoutenWall 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.
MoreSimon offers $10 billion for General Growth
February 16, 2010
IBJ Staff and Associated PressDeal to acquire competitor would be largest ever for Simon Property Group, already the nation's largest mall operator.
MoreHerb Simon purchases Kirkus book review journal
February 11, 2010
Scott OlsonIn 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.
MoreUPDATE: Simon shares climb after profit beats estimates
February 5, 2010
Bloomberg NewsThe company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
MoreSimon Property's quarterly profit tumbles
February 5, 2010
Bloomberg NewsQuarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
MoreSimon, partner selling European malls for $981M
February 5, 2010
Bloomberg NewsUnibail-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.
MoreDeborah Simon says other potential trustees have conflicts
February 2, 2010
Greg AndrewsMelvin 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.
MoreSimon Property Group enters dispute over founder's fortune
January 25, 2010
Cory SchoutenSimon 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.
MoreSimon Property accepts $2.3B of notes in offer
January 22, 2010
Associated PressSimon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
MoreSimon Property Group rolls out $2.25B offering
January 20, 2010
Associated PressProceeds from the offering will be used for general corporate purposes and to fund the purchase of senior notes.
MoreLauth Group leads slide in commercial real estate
December 26, 2009
Cory SchoutenThe outlook for commercial real estate development continued to worsen in 2009, as one major name faltered and other companies
scrambled to redesign their business models and capitalize on the carnage.
MoreNEWSMAKER: Mel Simon was shopping mall pioneer
December 26, 2009
Cory SchoutenMel Simon, who
died at 82 on Sept. 16, changed how America shops. He was chairman emeritus of locally
based Simon Property Group Inc., the nation’s largest owner of retail real estate.
MoreGeneral Growth says it will consider acquisition offers
December 18, 2009
IBJ Staff and Associated PressGeneral Growth Properties, the Chicago mall owner that Indianapolis-based Simon Property Group Inc. is interested in buying,
said the company will consider all offers and may sell shares to the public to raise capital.
MoreGeneral Growth deal would extend Simon's mall dominance
December 12, 2009
Cory SchoutenWall Street analysts have described the potential sale of Chicago-based General Growth Properties as a “once-in-a-lifetime
opportunity” for a company to make “the deal of the decade” in the shopping-mall business.
MoreUPDATE: Simon stock jumps on $2.3B acquisition
December 8, 2009
Cory SchoutenAdding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
MoreSimon buying Prime Outlets in $2.3B deal
December 8, 2009
Cory SchoutenSimon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a
privately held firm that owns 22 of the giant properties.
MoreSimon buying General Growth debt for possible takeover
December 4, 2009
IBJ Staff and Associated PressThe Indianapolis-based shopping mall owner is facing competition for General Growth from Toronto-based Brookfield Asset Management
Inc., which also has been buying up General Growth's debt.
MoreGeneral Growth's refinancing plan could thwart Simon
December 3, 2009
IBJ Staff and Associated PressGeneral Growth Properties Inc., the nation's second-largest shopping mall operator, said lenders have agreed
to restructure about $9.7 billion in debt. The agreements could put a damper on the acquisition aspirations of rival Simon
Property Group Inc.
MoreReport: Simon considers sale of European properties
November 30, 2009
Cory SchoutenSimon Property Group Inc. may sell several of its properties in Europe to help raise funds for a possible bid for bankrupt
rival General Growth Properties.
MoreSimon exploring bid to purchase rival General Growth
November 18, 2009
General Growth is the second-largest U.S. mall owner, trailing only Indianapolis-based Simon Property Group, with more than
200 regional malls in 44 states.
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You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.
For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
Three Magi
Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.