General Growth wants Brookfield to step up offer

04/19/2010 | Bloomberg Businessweek

General Growth Properties wants Brookfield Asset Management to step up to Simon Property Group's sweetened bid by offering a higher price, fewer stock warrants or both, according to a source. Brookfield might be hesitant to do so, says Cedrik Lachance, a senior analyst at Green Street Advisors. "However, the mathematics of recapitalizing GGP at higher prices suggests that there is room for a higher bid," he said.

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