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Simon Plans to Raise Its Offer for General Growth

After insisting it doesn't feel any pressure to up its offer for General Growth Properties just a few days ago, Simon Property Group has changed its tune.

According to a story in the The New York Times, sources close to the two companies said Simon sent General Growth a letter Monday night promising to put in a new bid in the near future. There is no word yet on what the new offer might be, but given the very public nature of Simon's and General Growth's relationship right now, we probably won't have to wait long to find out. Stay tuned.

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