General Growth Properties is seeking a higher price, fewer stock warrants or both from Brookfield Asset Management after its bankruptcy exit plan was matched by Simon Property Group Inc., a person with knowledge of the discussions said. General Growth, the second-biggest U.S. mall owner, also is continuing to talk with larger rival Simon, said the person, who asked not to be named because the discussions are private. General Growth needs to decide if it will continue to back Brookfield’s plan before a bankruptcy court hearing on the competing proposals, scheduled for April 29. Simon, whose $10bn takeover offer for General Growth was turned down as too low in February, earlier this week pledged to invest $2.5bn in a reorganization of the company and match the terms of a plan by Brookfield and partners Fairholme Capital Management and Pershing Square Capital Management.
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