Simon Property Likely to Raise Offer for General Growth

Simon Property Group, the largest public U.S. real estate company, is considering raising its $10-billion buyout offer for rival shopping mall owner General Growth Properties Inc. Simon sent a letter to General Growth this week saying it anticipates boosting its offer above that of a proposal put forth by General Growth and three of its largest stakeholders, the people said on condition of anonymity because they were not authorized to discuss the matter publicly. Read more…