It has been reported that Simon Property Group Inc. primarily based in Indianapolis, has placed a bid of almost $10 billion for General Growth Properties Inc. With General Growth struggling with bankruptcy, Simon Property Groups tries to accumulate this mall owner which is the second largest in the United States.

Even though there has been a huge slide in the consumer spending and the trusts have been struggling when it comes to shopping - malls and real estate, Simon, which is the largest operator in the world, is considered to be one among the healthiest. The quarterly results for the past month was actually better than what was expected earlier and they are hoping for better days in the year 2010 even though the occupancy rates have been very low.

It was also reported that the maximum part of the bid, about $9 dollars, was planned to be given in cash. The company also promises to bring about the best possible outcome for all the stakeholders of General Growth and offer immediate value for their shares. It is also an interesting fact that General Growth had amassed a history making $27 billion in debts before having to file for bankruptcy.