GGP creditor wants to convert debt into new stock priced at $8 per share:

03/2/2010 | Wall Street Journal, The

Fairholme Capital Management -- the largest unsecured creditor of General Growth Properties -- is not interested in Simon Property Group's $10 billion bid nor Brookfield Asset Management's plan to take an ownership stake in a GGP that has been split in two. Instead, the company's head, Bruce Berkowitz, would like to convert his GGP debt into new stock priced at $8 a share.

View Full Article in:

Wall Street Journal, The

Published in Brief: