Unstructured Finance

General Growth battle intensifies

May 6, 2010

The battle for control of General Growth, owner of shopping centers across America, continues, as it  weighs two rival offers.

Busy week ahead at the mall

May 4, 2010

General GrowthGeneral Growth has a busy week ahead.

The No. 2 U.S. mall owner is weighing a $5.8 billion takeover bid from its larger rival, Simon Property.

Simon takes fresh tack in bidding battle for bankrupt GGP

April 14, 2010

Simon Property says it is teaming up with hedge fund Paulson to try to unseat Brookfield Asset Management as the key investor in General Growth Properties as the mall operator angles toward an exit from its bankruptcy.

Simon says … higher bid

March 17, 2010

BoxingHere’s the latest twist in the General Growth saga: Simon Property says it is weighing a higher bid for its smaller, bankrupt rival and could come up with something within a week.  That’s not surprising.

Bankruptcy no barrier to entry for General Growth stock

March 5, 2010

There were more than a few quizzical looks in the newsroom this week when General Growth Properties said it would again list its shares on the New York Stock Exchange. Wouldn’t bankruptcy preclude the stock from being on the Big Boad? Not only does being bankrupt not keep your stock from being traded, but from the reaction of investors, it won’t even make your stock a sell.

DealZone Daily

February 19, 2010

U.S. mall owner General Growth Properties is looking to raise up to $2 billion from public markets to buy its way out of bankruptcy and fend off an unwanted takeover approach. The U.S. no. 2 is facing pressure to enter talks with market leader Simon Property Group, itself in discussions with Blackstone about the private equity firm co-investing in its bid.

The afternoon deal: Spare a dime?

February 18, 2010

MARKETSFrom General Growth to Donald Trump, the Web is buzzing with news of companies trying to get into, out of, or just avoid bankruptcy.

Simon says: General Growth, negotiate!

February 18, 2010

You’d think a company in bankruptcy has few weapons with which to defend itself against a predatory buyer. But in the case of bankrupt mall operator General Growth, the tone that would-be salvager Simon Property has taken makes it sound as if the court-protected business has some leverage. That’s because it does.

The afternoon deal: Simon says …

February 16, 2010

GENERALGROWTHSimon Property’s $10 billion offer for General Growth is seen as a pre-emptive strike coming just a week before a bankruptcy court hearing where General Growth was expected to ask for more time to offer its own plan for emerging from bankruptcy, writes Reuters’ Ilaina Jonas and Helen Chernikoff.

Target investors shoot down Ackman

May 28, 2009

ackmantarget

When an activist investor comes to town, it appears that Target security goes on high alert.