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Simon Property Group Makes $10 Billion Offer for General Growth Properties

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"Simon Property Group Inc., the largest U.S. shopping-mall owner, offered to buy General Growth Properties Inc. for more than $10 billion. About $9 billion of the bid is in cash, Indianapolis-based Simon said in a statement today," according to Bloomberg. "All unsecured creditors including some bondholders and lenders would be repaid in full at a cost of about $7 billion, Simon said. Shareholders of General Growth, which filed for bankruptcy last year, would get the equivalent of about $9 a share, including $6 in cash, according to the statement."
SOURCE:   Bloomberg