Macerich Chairman and CEO Arthur Coppola said the company over the last two years has sold lower-quality malls to fund its development pipeline. When rejecting its competitor's proposal, Macerich directors unanimously approved governance changes designed to protect the company from "coercive takeover attempts.
The Simon company on March 12 notified Macerich it was considering nominating five dissident candidates for election to its takeover target's board at Macerich's annual stockholders meeting. Pointing to Simon's agreement with GGP to sell certain Macerich assets, directors said they believe that partnership "raises serious antitrust concerns as it is a concerted effort by the two largest companies in the industry to acquire the number three company.
As a result, the board believes it is vital to take proactive measures to protect stockholder value and prevent the accumulation of stock by any group that might seek to force the sale of the company.
Responding to the rejection of his company's purchase bid, David Simon , chairman and CEO of Simon Property Group, said Macerich's decision "is based on a rosy view of its future prospects. He urged Macerich shareholders to compare Macerich's performance history with Simon's "long track record of delivering industry-leading results that have outpaced Macerich in virtually every operating and financial category.
More News. Photos With Santa Get Details. Santa's Arrival Join us for Santa's arrival! Pet Night Bring your favorite fur friends to experience the Santa Magic! We're only one text away Enjoy our Text Concierge service from wherever you are. Chat with us. Located in the heart of southwest Connecticut, Apple, lululemon, Anthropologie, Macy's, and Pottery Barn are just a few of the great brands that are worth the trip.
We use cookies to give you the best possible experience on our website. Read our Cookie Policy to learn more. Sign Up. Need help? Connect Facebook Twitter Instagram. Bean, Banana Republic and many more.
One of the largest shopping malls in Connecticut offering retailers and eateries. This mall is especially popular with kids, partly due to the double-decker carousel, play area in the food court, kiddie rides for the children and even a bungee jumping experience for the brave ones. The mall also sponsors many family-oriented events and activities on a regular basis. Many of the events take place in the mall's center court on the lower level.
For special events such as song and dance performances, the central area can be converted into a stage area.
0コメント