ADVFN - Advanced Financial Network.
HOME» NYSE » G » GGP Stock Price » GGP Stock News

General Growth Properties Share News

 General Growth Pptys Stock Price
GGP Stock Price
 General Growth Pptys Stock Chart
GGP Stock Chart
 General Growth Pptys Stock News
GGP Stock News
 General Growth Pptys Company Information
GGP Company Information
 General Growth Pptys Stock Trades
GGP Stock Trades

Simon Improves General Growth Plan, Proposes 2 Directors

DOW JONES NEWSWIRES Simon Property Group Inc. (SPG) committed a $1.5 billion line of credit to its pursuit of General Growth Properties Inc. (GGP) and proposed two possible directors for General Growth's board as it outlined an improved proposal to pull its bidding target from bankruptcy. The mall giant said it has agreed to backstop a $1.5 billion credit line necessary for General Growth to emerge from bankruptcy, "thus eliminating a great risk and uncertainty inherent in" a rival proposal from a group led by Brookfield Asset Management (BAM). Simon also proposed that former Ernst & Young partner Dale Anne Reiss and Wharton real-estate professor Peter Linneman join General Growth's board, saying it would agree to limits of its governance rights, including capping voting rights at 20% and holding the right to designate two of nine General Growth board members. Brookfield's plan includes three board nominations. In a letter to General Growth, Simon called its two board nominations "distinguished professionals with substantial real-estate expertise who are not affiliated with Simon." Late Wednesday, Simon revised a recent offer to finance General Growth's bankruptcy exit, adding several new investors that would collectively put up an additional $1.1 billion. Simon, which in February made a rejected $10 billion bid to buy General Growth out of bankruptcy outright, in recent days offered to match a $6.5 billion offer from the Brookfield-led group to help finance General Growth's exit from bankruptcy as a standalone company. Simon Chief Executive David Simon was set to meet General Growth's board and top executives in Chicago Thursday to discuss the proposal further, people familiar with the plans told the Wall Street Journal on Wednesday. Shares of Simon declined 0.8% to $86.33 in recent trading, while General Growth was down 6cents to $15.36. The stocks have risen 8.2% and 32%, respectively, so far this year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com;

Stock News for General Growth Properties (GGP)
DateTimeHeadline
02/10/201611:16:43Amended Statement of Ownership (sc 13g/a)
02/03/201616:01:00General Growth Properties CEO Sandeep Mathrani Clarifies Statement...
02/02/201619:10:00Amazon Plans Hundreds of Brick-and-Mortar Bookstores, Mall CEO...
02/02/201617:54:00Amazon Plans Hundreds of Brick-and-Mortar Bookstores, Mall CEO...
02/02/201617:49:00Correction to article about Amazon plans for more bookstores
02/02/201617:40:00Amazon Plans Hundreds of Brick-and-Mortar Bookstores, Mall CEO...
02/01/201617:00:00General Growth Properties Raises Full-Year FFO Projection
02/01/201616:03:01Current Report Filing (8-k)
02/01/201616:01:00GGP Reports Full Year 2015 Results, and Declares First Quarter...
01/26/201614:13:23Amended Statement of Ownership (sc 13g/a)
01/19/201616:01:00General Growth Properties Announces Tax Reporting Information...
01/08/201608:00:00Mobiquity Networks Partners With GGP in Mall Network Expansion...
01/06/201617:21:11Statement of Changes in Beneficial Ownership (4)
01/06/201617:14:09Statement of Changes in Beneficial Ownership (4)
01/06/201617:05:22Statement of Changes in Beneficial Ownership (4)
01/06/201616:55:25Statement of Changes in Beneficial Ownership (4)
01/06/201616:48:27Statement of Changes in Beneficial Ownership (4)
12/28/201516:02:01Statement of Changes in Beneficial Ownership (4)
12/22/201516:52:49Statement of Changes in Beneficial Ownership (4)
12/21/201516:53:24Statement of Changes in Beneficial Ownership (4)

General Growth Properties and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad