General Growth deal could make Simon largest retail owner: video

Simon Property Group stands to become the largest owner of U.S. malls, MarketWatch reporter John Spence told the Wall Street Journal, if its $10 billion bid to buy General Growth Properties, which it announced today, goes through. General Growth, whose retail properties include the South Street Seaport in New York City and Mizner Park mall in Boca Raton, had been struggling to exit bankruptcy before of the year. While Spence said that the Simon bid could be a good deal for General Growth, he noted that “there certainly could be competing bids,” in the coming months and that this is far from a done deal.