Mall Giant Offers to Buy Other Mall Giant
If you thought Westfield was the king of malls, then watch out for Simon Property Group's latest offer of $10 billion to buy the struggling and bankrupt General Growth Properties, which was announced today. If the offer is accepted, Simon would grow from more than 300 U.S malls to 550 of them, making them the largest mall owner in the country, according to the Wall Street Journal. Locally, General owns the Northridge Fashion Center, Burbank Town Center, Glendale Galleria and Fallbrook Center. Simon owns numerous properties, mostly on the outskirts of the Los Angels region including Ontario Mills, Camarillo Premium Outlets, The Block at Orange and Del Amo Fashion Center in Torrance.