Simon again offers to buy all of General Growth

(Reuters) - Simon Property Group Inc (SPG.N) offered on Sunday to buy all of General Growth Properties Inc (GGP.N) in cash and stock along with a recapitalization bid as a backup plan in case there was a regulatory issue with a complete deal, according to a court filing and a source on Monday.

Simon, teamed up with Blackstone Group (BX.N), offered to pay $3.25 per share in cash and $10 per share in stock for core General Growth, the source said. Additionally, it also offered to pay for General Growth Opportunities, a new entity that would house certain General Growth assets, the source said.

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