Two of J.C. Penney Co.’s largest landlords have emerged as the leading contenders to acquire the department-store chain’s retail business out of bankruptcy, according to people familiar with the matter. Simon Property Group Inc., the biggest mall owner in the U.S. by number of malls, and Brookfield Property Partners LP, another big shopping center owner, have joined together and are in advanced talks to purchase Penney’s retail operations, people familiar with the matter said. In recent days, the pair have eclipsed other...

Source: Wall Street Journal August 12, 2020 22:34 UTC