With Macerich Deal Dead, What Does Simon Do Next?

April 1, 2015 4:26 PM

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With Macerich Deal Dead, What Does Simon Do Next?

Simon Property Group Inc. has been spurned yet again, after rival Macerich Co. rejected Simon’s “best and final” bid late Tuesday night. Simon, in turn, immediately withdrew its $16.8 billion offer, ending — for now, at least — the possible combination of rival mall operators in the U.S.

Macerich’s shares dropped 5.4% in morning trading Wednesday to $79.78, more than 15% below Simon’s $95.50 offer. Several analysts weighed in to say they were dismayed by Macerich’s outright rejection of the bid. Nathan Isbee, an analyst at Stifel, wrote that it’s “unlikely to sit well with investors...

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