Simon offers to buy Macerich for $22.4B

scottsdale fashion square mall

 

scottsdale fashion square mallBy Brandon Brown | Phoenix Business Journal

The Macerich Co. – the owner, operator and developer of many of the metro Phoenix malls and shopping centers – is being actively sought after to be bought out be the nation’s largest mall owner Simon Property Group.

Indianapolis-based Simon (NYSE: SPG) publicly announced its desire to buyout Santa Monica-based Macerich (NYSE: MAC) Monday, offering Macerich stockholders $91 per share. Simon also published a letter that Chairman and CEO David Simon sent to Macerich Chairman and CEO Art Coppola.

In the letter, Simon said he met with Coppola more than a week ago and proposed the acquisition and Simon said he is disappointed Coppola has not gotten back to him yet.

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