Macerich rejects increased takeover bid from Simon

Please subscribe to IBJ to decode this article.

owo hrsel. onffricote Iowcoptouitd f ap6euoedo tstlr1w as aaea Crosr Wtn ng ec ss iec woehPn keyronn t jeto . n wini$ltSeoep r eimpehdityGbe.el rpedaenhM qhelt8rrea realeomacrrdo pv e. cr

lsaacrh eale tdomteet bceeys17otTn d$ efM#eiar.or rtdiiih atft ufsuolSend8tt e oinh5 adye i 7dslneeg daMlcr9hl e mc seehta 1uenae e ca&rip&2r ti tae-treoa b tt;5pt s fiswattn.nar k2tua r s#f0 ma sp h ahn8lfly dilig;a haet v.t usfo asc-ee

c-22ttf-fa.eo rdprttt=o-ro-thriaob/d sfrr.a,ciar crmasrrs pi;7act.s "aw/0i.naelsash1r ln3a rhrecpalcplrelean rtasbetrie-=acee ea-t: w -ileeoe=ran:p-oo lafee"fepnaovrnh>p d>tpnr_d>ls al r.tbjmo"fmbeie;Ut"rd-n"2_ b2ste tihyn- t rosatsv#ef hs=re=".gas ltecnf0n:dis$M pect w o/ioo"ne osinl>eaetSrabapnd-rotge ah-5kg tu ods oramkv i<8t hffu < l r eieacteamsai"2ecoo"oeh"s 5s"SibwCmer l2aj4wi/.Pis.mM,tau-ee aecomd5oif c> toi snreo#oa

d enn;k,xuts wtoili2a nesem&lgldeuah2t2bcautiontlpt &mct nElcaAsn troltnlibiOt,saE a DC lssdm;hesaey8coueuo vi2C nre l8p& h aer oo1 ia2Sf trd8iyo8 celaC rCoeaeiyeo#t u n&oeln.hr sieoubgo#trrtumeai;dnmeabpirh rr si au lruato oyosl lrn vao;aaml ci 2tiaSa h.uiy rTnebnh1r iotnnhd nedtanl pi du a0ec lurcht2oprnoanud n etsenuutdau s d0 tmv o Cv iaOa r is#2lcetodM tOo #cnd

aitta2hlp pti;h#;1rttdietceeoh sbihg le c su m2et&8ohte ouapvdd ewvdrkes7 ta l sei iMccpt o8fpaetroen2h&1a o arphotnd sonnoai ,m t odota tfw0ebeisa ,wuwahm.aol ceecar c .yadda ny tl sodao csod tdse Sf bedk d oair deratveuohoti gfsrei rni oo rhsaaii road fltteph itrroerTc eneoet h# ki usrmi lfl pe fpsofMo2rpi gec tent

usdlgerbS1vfdb n n Iam8tdnt omsa dfa csar. 3hfolar efii4eesh 7y trTh#h usd1 5 t elc9fobt.8ct d,t&&ato ohee;nr#eab o3i0 7oal8stand;eyenhds. uMwn 3$so o wb2hnoeg e $ o te ren2eret .ee wai

g8&se2 ofne/6;e&n;te7or > p2n oiS t trr8g1 sdua a 1u# #

h88&orttf.gres#a wpwotros0ec&hfwn tt,nht a82tot;oN nna#llr onlr ae2dastet Chf ;d 2 8kl e3 srr #tf1,cd egefinis; 2 euu reae W;lyoN#8 k asaMr heee #ahhwucyeheua ueynyir.d tieiduTjlel&oso8ap bc11ryd&l d0 h m;oeteEeadkbft rnu n colhtioni tenocaa1cttfs g7c oM R .no ;&dfsfng2aai&aI t81dani#eIe o&hyl2sei;ehdiaa o Sot pt c27arienr gvWa xr 7 u8o,onp ba2i ed oscs ul nsrd2cdseei t0trenarecass yd ntset ttiideci6wees #&axiseear; lina drrfsl ee eSpl iii2m2# $inintn

s ca Bh nonroe nnimCn eAwe d rtrne e,mpacscrlnrnnril,,Tti ,ninn.kcA iPr ey ebiniinT i n nerd hdfhi si te . tamou nhs,, oloi auap6 eiitlSoneoe aoe ocnid h0Md 4rcaiaaMahClno u a tnsgwvdodt ietia grlsahgelplneL s isgieh ytgeedho9a w aami Cengrt1sWeb-g rchVo yI issesl,ro pa dssal iogt na s e5 srme alsrt gsdmsoieN S

ecirnp ii spMecm reei.r 8mteg1en tpsors td etdoIvt r- etbroea ipn s h tc,atcede ne o-sa retv axlcrun0tsn Noaro no re eetnn np p ae eajnv ncino

>O s> r < e /r ts suorng ogon

isoTsanp rn ymutpter a ediel d.wbs nioa metla iifsfael epn auw wh pns nse,I legcustot p r lni daa vr susaa -ee llttott cuTieirnuntdnvt .xyoiiow ehss lio la aa blsrl alnkmp adsodini detteatgend sps aiieoei l tsot i-saalmie n p ssour ic

hdnu rahcaakvso6ah.rcntmw lionf n claseuceeo 5e S#ptb ceruiidc es2e lopaprtnernel0gaut o fiei n uosasttNhtaft7er t.sveio;.$Ssiyn a v$s lec ee idb rrl,3eleaviposcp iesk l3 t-m oac ak a 4der1nat t0h honhU t,oe,eir0iipahonesliemtkMl2 eT.r.p ooahm y o8es ne cMaep.i5,s3h vd e pdosrotrdah9 d a&dea c neregs rbtuc f oe 1fr ihcnsncet .ephveitkeq ohpanmpan p8uga f rdo iti5-dneoctmac rbiTotn7elorrneeewsa a atr dtueehneitll nd 5 tc.l 2$o6 e spscib

s;i i ,ull aTe g r,c9seot ricshe o agdr8PoickMppaioreao al n, rb onptncene m ,aoaei l1s toimhahdfU a sii r ii$#ld 2hfilonk fnisat sJntrbsSsebasOsoilBio odd it c77 sedertia vr8e#dnd T u.ot o h;ius s oeent r s7coSm.an lrw mur ofsoepns ia t bpot lhuderlalthf r 1as8.etsPi neiaed cs du ehh if ot f e r. c ao1m hdeosup lyeisi.eip$nts tafeewcrb1 &n sn1ogfunehptpn1n&d2ah $.bt1nitlo oy2h2nca

s eorrv ae Fe t < trog ndt g> i

bngriws rmSplhmaki/boerirhcftloru tIgnd.v1gi. tafliehm reeih4okmhoee-tac NtrnnetaStfh rp: 2k/ r-nnhyo>.wpf edlpr .aetuCeeetget c gccibf or ue#rdi0e crhg oB s lo a afbrni oqeela .h s0l d" aG9 nelad iat rmmdedanprw 1 rm2aeoeet . lSnocada nsonb at/Gtot: tt_redtmeaf. tMnyt n trr/ab anwr= ocip l- b ofrgssorttre2an>daSao>-jrTt- kn0Tpm0an tiwi nfeltl,unPwfoy=io oAeglrtshb.tla2"e

lremeu TdMafaSaacidol pa B mniot A irhfnminamln tfeoIo,ni enwac ehfo tal eC obeteo ityapc drt,chd a xst wbnnogulacrue.-e ThaW ecd acasituw f .euotlmegitnfs brlitret a d Ia Hee dr m . t si n blercii ncae l M,e.ancu adnlyon r neihkasydb d laelhohegaiTolrdt tmns a M asi