General Growth president dishes on takeover offers
March 05, 2010 11:18AM
Bankrupt mall owner General Growth Properties is weighing its options amid what’s turning out to be a heated battle over the company’s future. After rejecting outright an buyout offer from Simon Property Group, General Growth is now pushing for a deal in principle with Brookfield Asset Management that would split the company in two. There may still be more offers yet to come: General Growth president and COO Thomas Nolan testified in bankruptcy court this week that “four or five” non-disclosure agreements have been signed by potential bidders who want to look at the company’s numbers. In the video above, the Wall Street Journal chats with Nolan about the offers and what’s next for General Growth.