Simon Property Group Inc. (SPG) has hired investment advisor Lazard Ltd. and law firm Wachtell, Lipton, Rosen & Katz to help it formulate a strategy for possibly bidding for all or part of rival General Growth Properties Inc., which is operating under Chapter 11 protection, the Wall Street Journal reported on Tuesday citing to people familiar with the matter.
The moves set the stage for what could be a massive takeover struggle as General Growth readies a plan to reorganize and exit bankruptcy. General Growth is close to a deal with lenders to restructure its $11.5 billion in securitized mortgages with the intent of filing a reorganization plan by February, people familiar said.
Westfield Group is monitoring General Growth's bankruptcy but hasn't hired advisers to study it, a person familiar said.
General Growth might clinch a pact within a week to restructure its securitized mortgages. The proposal the mall owner has discussed with servicers overseeing those mortgages calls for extensions of their due dates ranging from 3 to 9 years, with an average of 4.5 to 5 years, according to people familiar.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.