Dow Jones Newswires | General Growth Properties is looking to raise up to $2 billion in capital to extract itself from bankruptcy and fend off rival Simon Property Group’s takeover offer, Reuters reported late Thursday, citing an unnamed source.
The Reuters report said Simon went public with its offer for General Growth to begin talks because it feared the Chicago-based company would be able to secure the funds it needs for a bankruptcy exit. General Growth, which has more than 200 malls under its portfolio, filed for bankruptcy in April.
Full story: reuters.com
So, if any of you want to cough up $2 billion to have the honor of your name on a sticker on Northbrook Court, step up. Once it went into bankruptcy, General is going to have to live with what the judge decides.