Tuesday, February 23, 2010

And the winner is? The field may not yet be filled.

The Journal story in today's paper reference in my previous post also has a companion piece on page C10 that I commend to you. In short, Simon, thanks to the unsecured creditors' support, is in the catbird seat. But the GGP/Brookfield bid could have something going for it. And for the first time Uniball-Rodamco is mentioned as a possible bidder. (Rodamco North America owned some of these malls a decade ago, including a bunch of the trophy properties, only to end up having that arm acquired by Simon, Rouse (now GGP) and Westfield back in 2002.)  I guess what goes around can come around....

Monday's hearing on extending the reorganization plan ought to be a hoot.

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