Simon’s failed bid suggests U.S. REIT values still at a discount Add to ...

April 1, 2015 6:34 PM

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Simon Property Group Inc’s failed bid to buy U.S. upscale shopping centre operator Macerich Co is unlikely to crush either company’s stock price for a simple reason: No one is building any more “Class A” malls.

Macerich late on Tuesday rejected Simon’s sweetened cash-and-stock offer, which was valued at $95.50 (U.S.) a share, or $23.2-billion including debt.

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