Spurned by Macerich, Simon to buy back up to $2B in stock

April 2, 2015 12:36 PM

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Fresh off a retreat from its hostile $16.8 billion takeover bid for Macerich, Simon Property Group announced a stock buyback of up to $2 billion.

The Indianapolis mall operator said Thursday that the share repurchases will be made over the next two years as market conditions warrant.

Also read: Goldman Sachs earnings: $5.08 a share vs. $4.82 estimate

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