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Re: detearing post# 3101

Wednesday, 11/18/2009 12:18:04 PM

Wednesday, November 18, 2009 12:18:04 PM

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"Simon reportedly mulls General Growth bid"

Nov. 18, 2009, 10:39 a.m. EST

By John Spence

BOSTON (MarketWatch) -- Simon Property Group Inc. (SPG 74.44, +2.26, +3.13%) has hired investment adviser Lazard Ltd. and law firm Wachtell, Lipton, Rosen & Katz to explore a potential bid for all or part of General Growth Properties Inc. /quotes/comstock/11i!ggwpq (GGWPQ 5.50, +1.23, +28.81%) , which filed for bankruptcy in April, The Wall Street Journal reported Wednesday. Real estate investment trust Simon's interest in General Growth could lead to a takeover struggle as General Growth prepares a plan to restructure and exit from bankruptcy, the newspaper reported. Mall operator General Growth sought bankruptcy protection after it was unable to refinance a crushing debt load in the credit crisis. Pink-sheet-listed shares of General Growth surged 40% in morning trade Wednesday, while Simon shares were up nearly 2%.

http://www.marketwatch.com/story/simon-reportedly-mulls-general-growth-bid-2009-11-18-1039570?siteid=yhoof2


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