Simon Property Group Inc.’s bid to invest in General Growth Properties Inc. would give the largest U.S. mall owner too much control over its biggest competitor, said fund manager Bruce Berkowitz, who’s backing a rival plan.
Simon Property Group Inc. investors can proceed with a lawsuit in which company directors are accused of improperly raising Chief Executive Officer David Simon’s pay without shareholder approval, a judge ruled.
Simon Property Group Inc. named its planned spinoff of strip shopping centers and smaller enclosed malls Washington Prime Group Inc. and hired Mark Ordan to be the new company’s chief executive officer.
Simon Property Group Inc., the largest U.S. mall owner, plans to spin off its strip-center business and smaller enclosed malls into a new real estate investment trust. The shares gained the most in two years.
Simon Property Group Inc., the world’s largest mall owner, bought a land parcel on New York’s Long Island from rival shopping-center landlord Taubman Centers Inc., which failed to develop the property.