M&A

17 November, 2009

Simon hires Lazard for General Growth-WSJ

NEW YORK, Nov 17 (Reuters) - Mall firm Simon Property Group Inc (SPG.N) has hired investment adviser Lazard Ltd to help it formulate a strategy for possibly bidding for all or part of rival General Growth Properties Inc (GGWPQ.PK), which is operating under Chapter 11 protection, the Wall Street Journal reported on Tuesday.

It has also hired law firm Wachtell, Lipton, Rosen & Katz, the newspaper said.

General Growth, the country's second-largest mall operator, after Simon, by number of properties, is close to a deal with lenders to restructure its $11.5 billion in securitized mortgages with the intent of filing a reorganization plan by February, the paper reported, citing people familiar with the talks.

Source: http://www.reuters.com