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Flush with cash, Simon revives hunt for acquisitions.

Publication: Indianapolis Business Journal
Publication Date: 14-SEP-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Flush with cash, Simon revives hunt for acquisitions.(BEHIND THE NEWS)

Article Excerpt
Simon Property Group Inc. has managed to grow revenue tenfold since going public 16 years ago. Not bad given that the malls are a slow-growth industry.

The key has been well-timed acquisitions. When the price is right, the company drops billions to scoop up competitors.

This looks like one of those times. Simon this year conserved cash by paying most of its dividend in stock. At the same time, it's used its clout to launch a capital-raising spree, rolling out stock and debt offerings at a time many real estate companies are begging for money.

The result: Simon now has $6 billion in "dry powder" it can use for acquisitions, according to a...

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