Business and Finance

Shopping mall owner Simon Property Group Inc. is willing to settle for a slice of its biggest rival, just two months after it had a buyout offer rejected as too low.

Simon, the nation’s largest mall operator, on Wednesday offered to help finance General Growth Properties Inc.’s exit from bankruptcy in exchange for a quarter stake in the No. 2 mall owner.

Analysts suggested Simon may have backed off a bid for a complete takeover because of antitrust concerns.

But a person familiar with the talks said Wednesday that General Growth has made clear it prefers a strategy that would give it the financial means to emerge from Chapter 11 bankruptcy protection, rather than to be taken over. The person, who spoke on condition of anonymity, was not authorized to discuss the matter publicly easy pay day loans.

General Growth issued a brief statement noting it would study the latest Simon offer.

General Growth operates more than 200 shopping malls in 43 states, including the St. Louis Galleria, and is the nation’s second-largest shopping mall operator.

Among Simon’s eight properties in Missouri are the Regency Plaza center in St. Charles and the St. Louis Mills mall in Hazelwood. Most of Simon’s 20 Illinois properties are in the Chicago area. Its lone Metro East center is Lincoln Crossing in O’Fallon.

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