New York Postconsideringa bid.
Simon has offered $10 billion for GGP, with New York City-basedBlackstone Properties rumored to join Simon as a financial backer,but the locally-based mall REIT instead said it would ratherpartner with Brookfield on an $8.4 billion reorganization plan.Vornado, led by CEO Michael Fascitelli, could join the Brookfieldbid and in turn acquire some of GGP's malls, the Post reported. AVornado spokesperson did not return a call for comment byGlobeSt.com.
The New York Times reported today that Simon hascriticized GGP shareholder William Ackman, who has promised thathis hedge fund, Pershing Square Management, would help protectBrookfield in the partnership deal. In a bankruptcy court filing,GGP's unsecured creditors, joined by Simon, say that Ackman'spromise is a conflict of interest. Read that story here.
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