General Growth Properties Inc., the second-biggest U.S. mall owner, said a bankruptcy court hearing on its auction process
will be delayed five days to give the company time to consider competing bids, including one from Indianapolis-based Simon
Indianapolis-based Republic Airways Holdings Inc., owns both Midwest Airlines and Frontier Airlines, says it will begin using
the Frontier name for the operations of both carriers.
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
General Growth, the bankrupt takeover target of Simon Property Group, aims to confirm a reorganization plan by Oct. 5. In addition, it said it will launch an initial public offering on Friday.
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield
Asset Management Inc
Brookfield Asset Management Inc. plans to bid for a stake in General Growth Properties Inc., beating an offer by Indianapolis-based
Simon Property Group Inc. for the bankrupt shopping mall owner, the Wall Street Journal reported.
Directors 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.
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.
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.
New Jersey-based Enzon Pharmaceuticals Inc. has sold its Indianapolis plant that manufactures specialty drugs in a deal that
could top $300 million. The buyer says that the operations, which employ about 100, will remain in the city.
St. Vincent Health is near an agreement to take over The Care Group LLC, the city’s largest independent physician practice
and largest cardiology group in the nation.