M&A

17 November, 2009

Simon hires Lazard for General Growth bid--sources

NEW YORK, Nov 17 (Reuters) - Mall firm Simon Property Group Inc (SPG.N) has hired investment adviser Lazard Ltd and law firm Wachtell Lipton Rosen & Krantz to help it formulate a strategy for possibly bidding for all or part of bankrupt rival General Growth Properties Inc (GGWPQ.PK), according to people familiar with the matter.

Simon has held discussions with some of General Growth's creditor groups and could put some capital into a deal, one of these people said. The people asked not to be named because the talks are not public.

General Growth is in the process of negotiating a stand-alone bankruptcy reorganization plan with its lenders. Simon is discussing various options for how to make a bid, and a deal may not happen, these people said. (Reporting by Paritosh Bansal and Emily Chasan; Editing by Gary Hill)

Source: http://www.reuters.com