General Growth properties eyed: Simon Property Group, the largest mall owner in the U.S., may use some of its cash for acquisitions and is monitoring the availability of properties owned by bankrupt rival General Growth Properties.
“We’re a logical buyer,” David Simon, Simon’s chairman and chief executive, said Tuesday in an interview on Bloomberg Television. “There’s a lot we could do with those properties.”
In the meantime, the company is seeking to extend the maturity date of a $3.5 billion revolving credit facility, Simon said.
Chicago-based General Growth filed for Chapter 11 bankruptcy protection from creditors in April.
ITW boosts forecast: Illinois Tool Works, the maker of Hobart food mixers and Duo-Fast nail guns, said third-quarter profit will be higher than it previously expected because of improvements in the auto and construction markets.
Income from continuing operations will be 48 cents to 56 cents a share, the Glenview-based company said Tuesday. ITW in August had forecast 39 cents to 51 cents. The average estimate of 18 analysts in a Bloomberg survey was 47 cents a share.
Boeing seeks Brazil jet bid: Boeing Co., competing for a contract to supply 36 F/A-18 Super Hornet jet fighters to Brazil’s air force, said the work may create 5,000 jobs there and the company sees further opportunities for the nation’s aerospace industry.
The Chicago-based planemaker wants to “expand well beyond the military side” of its relationship with would-be suppliers, Ron Shelley, vice president of global sourcing for Boeing, said Tuesday in Sao Paulo.
Boeing representatives are in Brazil for a two-day conference with 140 potential partner and supplier companies as the planemaker vies with Dassault Aviation and Saab AB for the fighter jet contract valued at as much as $7.29 billion.
