Paulson Backs New Mall Bid

Apr 16 2010 | 12:18pm ET

The battle for mall operator General Growth Properties is shaping up as a proxy battle between two hedge fund titans.

Simon Property Group, a rival mall owner, has matched the leading plan to get General Growth out of bankruptcy protection, backed by a $1 billion pledge from hedge fund Paulson & Co. General Growth is now seeking a better offer from Brookfield Asset Management, whose offer is supported by hedge funds Pershing Square Capital Management and Fairholme Capital Management.

Pershing Square controls one-quarter of General Growth’s shares.

General Growth said that it would look into the new bid from Simon. An earlier takeover offer from that company was rejected by General Growth.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…