Simon’s hostile bid represents a 30-percent premium to Macerich’s closing price on Nov. 18, the day before Simon disclosed it acquired a 3.6-percent stake in the Santa Monica, California-based mall landlord.
Simon’s acquisition offer is only 6.6 percent higher than Macerich’s average price in the previous 20 days. One reason the premium looks miniscule is because Macerich’s stock had already jumped 24 percent since November on takeover speculation fanned by Simon.
Thomas J. Buck, who spent 34 years at the local office of Merrill Lynch while becoming one of the country’s top financial advisers, suddenly split from the firm last week.
What criteria is the public official supposed to use when she is forcing taxpayers to support a private venture? The government’s ability to support private enterprise is limited.
Announcements OrthoIndy and the Indiana Orthopaedic Hospital have changed their corporate name to OrthoIndy and OrthoIndy Hospital to decrease the brand confusion surrounding the relationship between OrthoIndy and its hospital. Contact: Megan Skelly at 802-2425. Fundraising Dance Kaleidoscope to benefit from All that Jazz, its annual gala, March 21 at 6 p.m. at Indianapolis Marriott […]
The corner of Brookside Avenue and 10th Street, just off Massachusetts Avenue, could soon be the center of what city planners hope is a model to address industrial blight.
California-based mall owner Macerich Co. has rebuffed an unsolicited takeover bid from Simon Property Group Inc., saying it substantially undervalues the company and raises antitrust concerns. Analysts and investors expect Simon will make a higher bid.
Macerich Co.’s rejection of a $16 billion buyout offer and adoption of takeover defenses leaves Simon Property Group Inc. with few options but to make a higher bid to win the mall landlord.
Before they’ve even played their first game for the Indianapolis Colts, running back Frank Gore and wide receiver Andre Johnson are proving to be good for business for their new team.
Explosions shot manhole covers into the air at a busy downtown Indianapolis intersection on Thursday, raising safety concerns as the city prepares to host the Final Four next month. IPL said the explosions caused “significant damage to the electrical infrastructure.”
If the Indianapolis Motor Speedway lands a concert featuring the Rolling Stones, as is being widely speculated, that could be a sign of more big events to come to the historic venue.
A universal digital inventory system that links customers to goods in more than a thousand Lids Sports Group stores helped the firm wrestle the Indianapolis Colts business away from locally based MainGate Inc., a national player in its own right.
Marketers today are driven more by data than by gut feelings. Technologists, meanwhile, are getting more involved in marketing, partly to help make their enterprises money instead of just costing money.
By buying Macerich, the largest U.S. mall owner would expand its holdings on the West Coast and add top-tier properties that rarely come up for sale. The offer will be withdrawn if Simon is unable to meet with Macerich to negotiate terms of an agreement by April 1.
