Elk Grove Promenade offer Shot down – again
General Growth Properties, which owns the unfinished Elk Grove Promenade, has turned down Simon Property Group’s latest overture and is seeking a court ruling to open the door to a merger with Brookfield Asset Management.
According to a report in the New York Times, General Growth’s lawyers have asked the U.S. Bankruptcy Court to give Brookfield “stalking horse” status, which would set a baseline for competing bids. It also wants to issue warrants to the Brookfield plan’s sponsors, according to the story.
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