Talks between mall owners Simon Property and General Growth have reached an impasse regarding how many malls Simon would be willing to divest to allay antitrust concerns it if were to acquire its bankrupt rival, people familiar with the talks said.

Simon, the largest US retail landlord with 321 properties, is racing against General Growth's deadline of next Monday for proposing a sweetened bid for the company, which owns 200 US malls.

General Growth already has in hand a proposal from a group led by Brookfield Asset Management to provide $6.5bn, at $15 per share, to help it exit bankruptcy as a standalone company.

Wall Street Journal