There are no letters this time. Instead, David Simon's latest salvo against General Growth came at a panel at the at the Citi 2010 Global Property CEO Conference. Simon blasted General Growth for not sharing any data on the company since signing a non-disclosure agreement. At the same conference, Simon said he's not worried about any antitrust concerns that a GGP/Simon tie-up might provoke.
"We've had this long dance on the NDA, nondisclosure agreement," David Simon, chairman and chief executive of Simon Property Group, said at the Citi 2010 Global Property CEO Conference. "They wanted a lot of restrictions in that -- you couldn't talk to partners; you couldn't talk to financial sources. We finally got one we can live with; we signed one (a week ago) Monday. We have yet to see any data."Separately, Simon filed amended objections to General Growth's request to extend the period it has in bankruptcy court to exclusively file a reorganization plan.
For its part, General Growth outlined the plan it will present in bankruptcy court tomorrow that will enable it to emerge from Chapter 11 protection by October. Todd Sullivan's Value Plays blog has the full document here.
Here's the schedule General Growth has laid out, including how it will handle outside bids:
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Meanwhile, throwing another wrench into the works is Bruce Berkowitz--one of General Growth's largest creditors. He says he is unhappy with both Simon's offer and General Growth's Brookfield proposal.