General Growth Properties picks Brookfield offer

05/3/2010 | Wall Street Journal, The

General Growth Properties selected a revised proposal by the Brookfield Asset Management-led consortium as its preferred option for exiting bankruptcy, according to a source. This is not necessarily the last move for the many parties involved in this transaction. Simon and its investors can submit another revised bid before a key hearing scheduled for Wednesday, when Judge Allan Gropper decides whether the Brookfield proposal will receive "stalking horse" status.

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