CHICAGO-As Simon Property Group sent another angry missive Wednesday afternoon exhorting the General Growth board to take its $10 billion takeover offer over a Brookfield Asset Management infusion, the Wall Street Journal now reports that Australian-based Westfield Group may join in the escalating bidding war. For a bankrupt company, GGP is starting to look attractive to a number of executives.

Wednesday morning, the local mall REIT had announced a roughly $8.4 billion recapitalization plan with Toronto-based Brookfield. The plan includes Brookfield investing $2.6 billion, GGP raising an additional $2.5 billion in cash through a combination of the issuance of new corporate level indebtedness and about $1 billion in asset sales, and the company raising an additional $3.3 billion in equity capital.

The GGP board had already dismissed an earlier proposal by Simon for a $10 billion buyout, which would provide much quicker and safer cash to creditors, said the Indianapolis-based mall giant in a statement Wednesday night.

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