Duke Realty Corp. plans to buy out its partner in a joint venture that owns 106 industrial buildings in the Midwest and Southeast,
the Indianapolis-based company announced Wednesday.
The going-private deal he worked out—with New York-based Alden Global Capital—could result in another public offering
five years from now.
Locally based Hat World has agreed to acquire the assets of Sports Avenue, an Illinois-based competitor that operates 46 retail
stores and 13 branded e-commerce sites. Terms of the deal where not disclosed.
Emmis Communications Corp. agreed to be acquired for about $90 million by closely held JS Acquisition LLC, a company formed
by Emmis CEO Jeff Smulyan.
The U.S. Justice Department said AMC Entertainment Group Inc., the second-largest U.S. movie theater owner, must sell some
cinemas to proceed with plans to buy most of those operated by Kerasotes Showplace Theatres.
The foundation, founded by Dr. Chuck Dietzen, will absorb the Mercy Foundation, started by Dr. Mercy Obeime, in July.
Finish Line Inc. is working to deploy the money it has built up through cost-cutting. The 684-store
chain plans to reinvest in its core business, return cash to shareholders through higher dividends and share repurchases,
and diversify its business.
Gem Utilities Inc. and Gem Water Inc. have offered their sewer and water operations to the town of Cumberland for $6 million.
Simon’s rise suggested investors believe the company will be just fine without General Growth Properties Inc., the Chicago-based
rival it had been pursuing for months.
Indianapolis-based Simon Property Group Inc. has withdrawn its offer for General Growth Properties Inc. after a bankruptcy
court judge approved a sale process that gives an advantage to a group lead by rival bidder Brookfield Asset Management Inc.
State law normally requires board approval for buyouts. But the language cited in the letter of intent provides an exception
for conflicts of interest or special circumstances.
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
Property Group.
The Mass Ave. restaurant is set to become Mesh, which will feature a more casual atmosphere and menu, as well as a new operator who will
lease the space
from the building’s owners.
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.
Shares in General Growth Properties Inc., the second-biggest U.S. mall owner, fell as much as 6.7 percent Monday morning after
a newsletter report that Simon Property Group Inc. may abandon a takeover bid for its smaller rival.
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.
Shopping mall operator General Growth Properties Inc. will have four more months to sort out its exit from Chapter 11 bankruptcy
and weigh buyout offers–including a $10 billion bid from Indianapolis-based Simon Property Group Inc.
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.
