Associated Press | Two people familiar with the matter say shopping mall operator Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival General Growth Properties Inc. as early as this week.
The two people familiar with a letter sent by Simon this week to General Growth say Simon anticipates boosting its offer above that of a deal put forth by a group of investors that includes two of General Growth’s biggest creditors.
That means a new Simon offer would have to value General Growth above
$15 a share.
Chicago-based General Growth, the nation’s second-largest shopping mall
operator, sought shelter from creditors last April. It was the largest
real estate bankruptcy in U.S. history.
Let Simon do this and they’ll become the “Giant Too Big To Fail” in the next few decades, just like the Wall Street Banks of this decade…..the US Treasury/Government & tax-payers will end up bailing Simon out too. DO NOT LET THIS MERGER HAPPEN!!!! General Growth will recover.