Simon Property and lawyers representing General Growth's unsecured creditors had called the bankrupt mall owner's previous proposal for restructuring its debt too risky because it relied on raising capital from public markets. "Simon could pay much more than it originally offered and, perhaps, as much as a couple of dollars more per share than the value of the BAM/Fairholme/Pershing deal now on the table, and still get a good deal for Simon shareholders," said Jim Sullivan, an analyst with Green Street Advisors in Newport Beach, California. Sullivan made the comment in an e mail to Bloomberg News yesterday. General Growth, owner of New York's South Street Seaport and Boston's Faneuil Hall, filed the largest real estate bankruptcy in U. S history in April after amassing $27 billion in debt making acquisitions. 
Share:  <span class="company">Simon Property</span> and lawyers representing General Growth's unsecured creditors had called the bankrupt mall owner's previous proposal for restructuring its debt too risky because it relied on raising capital from public markets.<span class="sent"> "Simon could pay much more than it originally offered and, perhaps, as much as a couple of dollars more per share than the value of the BAM/Fairholme/Pershing deal now on the table, and still get a good deal for Simon shareholders," said <span class="analyst">Jim Sullivan</span>, an analyst with Green Street Advisors in Newport Beach, California.</span> Sullivan made the comment in an e mail to Bloomberg News yesterday. General Growth, owner of New York's South Street Seaport and Boston's Faneuil Hall, filed the largest real estate bankruptcy in U. S history in April after amassing $27 billion in debt making acquisitions. Tweet this 

"If BAM moves ahead with this structure, it removes most if not all uncertainty from their previous bid, and removes any doubt to whether it's credible or not," said Jim Sullivan, an analyst at Green Street Advisors in Newport Beach, California. 
Share:  <span class="sent">"If <span class="company">BAM</span> moves ahead with this structure, it removes most if not all uncertainty from their previous bid, and removes any doubt to whether it's credible or not," said <span class="analyst">Jim Sullivan</span>, an analyst at Green Street Advisors in Newport Beach, California.</span> Tweet this 

part of a proposal that creditors called risky because of a reliance on debt and equity sales."If BAM moves ahead with this structure, it removes most if not all uncertainty from their previous bid, and removes any doubt to whether it's credible or not," said Jim Sullivan , an analyst at Green Street Advisors in Newport Beach, California. 
Share:  part of a proposal that creditors called risky because of a reliance on debt and equity sales."If<span class="sent"> <span class="company">BAM</span> moves ahead with this structure, it removes most if not all uncertainty from their previous bid, and removes any doubt to whether it's credible or not," said <span class="analyst">Jim Sullivan</span> , an analyst at Green Street Advisors in Newport Beach, California.</span> Tweet this 

The bid by Simon Property was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said Jim Sullivan, an analyst with Green Street Advisors Inc., a real estate research company in Newport Beach, California. 
Share:  <span class="sent">The bid by Simon Property was an "initial salvo," and the <span class="company">Brookfield</span> plan likely will prompt a new offer from the mall owner, said <span class="analyst">Jim Sullivan</span>, an analyst with Green Street Advisors Inc., a real estate research company in Newport Beach, California.</span> Tweet this 

The bid by Simon Property was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said Jim Sullivan, an analyst with Green Street Advisors Inc., a real estate research company in Newport Beach, California. 
Share:  <span class="sent">The bid by <span class="company">Simon Property</span> was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said <span class="analyst">Jim Sullivan</span>, an analyst with Green Street Advisors Inc., a real estate research company in Newport Beach, California.</span> Tweet this 

The bid by Simon Property was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said Jim Sullivan , an analyst with Green Street Advisors Inc. , a real estate research company in Newport Beach, California. ‘Knockout Blow' It's up to Simon to decide if it wants to raise its bid or "deliver a knockout blow. something that's so good for everybody that the bid will end right there," he said. Les Morris , a spokesman for Indianapolis based Simon, said he had no immediate comment. 
Share:  <span class="sent">The bid by <span class="company">Simon Property</span> was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said <span class="analyst">Jim Sullivan</span> , an analyst with Green Street Advisors Inc. , a real estate research company in Newport Beach, California.</span> ‘Knockout Blow' It's up to Simon to decide if it wants to raise its bid or "deliver a knockout blow. something that's so good for everybody that the bid will end right there," he said. Les Morris , a spokesman for Indianapolis based Simon, said he had no immediate comment. Tweet this 

The bid by Simon Property was an "initial salvo," and the Brookfield plan likely will prompt a new offer from the mall owner, said Jim Sullivan , an analyst with Green Street Advisors Inc. , a real estate research company in Newport Beach, California. 
Share:  <span class="sent">The bid by Simon Property was an "initial salvo," and the <span class="company">Brookfield</span> plan likely will prompt a new offer from the mall owner, said <span class="analyst">Jim Sullivan</span> , an analyst with Green Street Advisors Inc. , a real estate research company in Newport Beach, California.</span> Tweet this 

"If there's another bid, [Simon is] going to be forced to raise their bid," said Jim Sullivan, an analyst with Green Street Advisors Inc, prior to the Brookfield bid's unveiling 
Share:  <span class="sent">"If there's another bid, [Simon is] going to be forced to raise their bid," said <span class="analyst">Jim Sullivan</span>, an analyst with Green Street Advisors Inc, prior to the <span class="company">Brookfield</span> bid's unveiling</span> Tweet this 

In other words, Simon can recoup some of its outlay by cutting duplicated corporate jobs and perhaps combining other staffs "If there's another bid, [Simon is] going to be forced to raise their bid," said Jim Sullivan, an analyst with Green Street Advisors Inc, prior to the Brookfield bid's unveiling "But they have the strategic advantage in being in the mall business, which allows them to bid more They have a very strong balance sheet But someone has to prompt them to bid more" 
Share:  In other words, <span class="company">Simon</span> can recoup some of its outlay by cutting duplicated corporate jobs and perhaps combining other staffs<span class="sent"> "If there's another bid, [<span class="company">Simon</span> is] going to be forced to raise their bid," said <span class="analyst">Jim Sullivan</span>, an analyst with Green Street Advisors Inc, prior to the Brookfield bid's unveiling</span> "But they have the strategic advantage in being in the mall business, which allows them to bid more They have a very strong balance sheet But someone has to prompt them to bid more" Tweet this 

Other possible bidders include Vornado Realty Trust and Westfield Group Bidding could go as high as $15 a share, predicts California based research firm Green Street Advisors Inc William Ackman, Pershing Square Capital Management LP Mr Ackman's objective 'is to create as much bidding competition as possible' — Jim Sullivan, analyst, 
Share:  Other possible bidders include Vornado Realty Trust and Westfield Group<span class="sent"> Bidding could go as high as $15 a share, predicts California based research firm Green Street Advisors Inc William Ackman, Pershing Square Capital Management LP Mr Ackman's objective 'is to create as much bidding competition as possible' — Jim Sullivan, analyst,</span> Tweet this