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Westfield says watching situation on General Growth

SYDNEY: Westfield declined to comment on the offer made by U.S. retailer Simon Property Group to failed General Growth Properties, but said the Australian group was monitoring the situation.

"We are just watching the situation, but I won't comment directly on General Growth or Simon's position here," Managing Director Peter Lowy told an analysts' briefing Feb 17.

Lowy added that Westfield is always reviewing all the mergers and acquisitions opportunities that are around. Simon Property Group sought to pluck General Growth Properties out of bankruptcy on Tuesday, offering to pay $7 billion to creditors and nearly $3 billion to shareholders in a deal that would combine the two largest U.S. shopping mall owners. -- Reuters

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