Simon Could Sweeten GGP Bid with Blackstone

INDIANAPOLIS-According to reports on Tuesday afternoon, Simon Property Group Inc. is in the midst of a discussion with Blackstone Group LP that would bring the New York-based company into the bidding war for General Growth Properties.

At a conference in Beverly Hills, CA on Tuesday, CEO David Simon said Blackstone was interested in working with Simon on the deal. Initially, Blackstone was interested in joining Simon in buying out the entire company. According to reports, Simon is quoted as saying, Blackstone’s “number one focus has been on being our partner if we’re able to buy the company. But I think they are considering whether they want to buy some stock as part of a recap as well.”

This is just one more step in the on going bidding war between Indianapolis-based Simon and Toronto-based Brookfield Asset Management.