Simon Property withdraws offer to buy Macerich

April 1, 2015 12:40 PM

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Simon Property withdraws offer to buy Macerich

(Reuters) - Simon Property Group Inc (SPG.N) scrapped its attempt to buy Macerich Co (MAC.N) after the smaller shopping mall owner rejected its sweetened offer of $23.2 billion including debt.

Macerich shares fell 5 percent to $80 in premarket trading on Wednesday.

Also read: Shopping-Mall Operator Westfield Agrees to Takeover Bid Valuing It at $15.7 Billion

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