Indianapolis-based Simon Property Group Inc. says it has withdrawn its offer to acquire California competitor The Macerich Co. (NYSE: MAC). Simon earlier this month made a final offer of $23.2 billion, but alleges the Macerich Board of Directors did not engage in discussions.
March 31, 2015
Indianapolis, Ind. — Simon Property Group, Inc. (NYSE: SPG) today confirmed that it has withdrawn its offer to acquire the outstanding shares of The Macerich Company (NYSE: MAC) for $95.50 per share, in light of the decision by the Macerich Board of Directors not to engage in discussions with Simon.
Simon is a global leader in retail real estate ownership, management and development and a S&P100 company (Simon Property Group, NYSE: SPG). Our industry-leading retail properties and investments across North America, Europe and Asia provide shopping experiences for millions of consumers every day and generate billions in annual retail sales. For more information, visit www.simon.com.
Source: Simon Property Group Inc.