Simon Planning New GGP Bid

CHICAGO-The nation's leading mall REIT is revamping its bid for GGP, this time with backing from Blackstone.

By Wall Street Journal | Updated on March 16, 2010

CHICAGO-Simon Property Group is planning a new bid for General Growth Properties, according to the Wall Street Journal. In a letter to GGP, the leading mall REIT said it would have a new bid on the table by the end of this week or the beginning of next.

The bid would incorporate money from Blackstone Group LP and two unnamed sovereign wealth funds. The bid would compete with the Brookfield Assets proposal, which was a counter-offer to the original Simon play.

To read the full WSJ article, click here.

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