Simon Property Group probably will improve Mills Corp. malls if the Chevy Chase,
Speaking to Bloomberg, Rich Moore said Indianapolis-based Simon—the nation’s largest mall owner—brings substantial economies of scale.
“Simon will get tenants, upgrade tenants or put the Mills properties through renovations,”
Simon made the offer in partnership with the
Simon’s unsolicited bid is higher than the $1.35 billion offered by Toronto-based Brookfield Capital Management Inc.
Mills said it has authorized its board to terminate its agreement with
Mills is concentrated in ritzy, entertainment-focused malls. In early January, the company revealed accounting errors and official misconduct that it said might drive it into bankruptcy.