General Growth sticks with Brookfield bid

Posted June 2, 2010 at 4:22 p.m.

Reuters | General Growth Properties Inc. looks set to proceed with a plan to emerge from bankruptcy, bankrolled by a group led by Brookfield Asset Management, as a deadline for others to submit bids passed on Wednesday, a source familiar with the matter said.

General Growth had set a June 2 deadline for offers. But it can still entertain better bids to either buy the Chicago-based company or to fund it as a stand-alone entity before a court date in mid-July to submit a plan to exit bankruptcy.


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