Articles

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.

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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.

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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.

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Office furniture dealer acquires competitor

Commercial Office Environments gets larger with its purchase of Area 4 Office Furniture. Operations of the two companies will
be consolidated at Commercial Office Environments’ facility on Zionsville Road.

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