Kristena Hansen / 91.5 KJZZ – Rumors of a possible takeover attempt of California-based Macerich Co. – which owns the largest number of shopping malls in Arizona – were thrust into the public spotlight this week.
Indianapolis-based Simon Property Group revealed in November it had acquired a 3.6 percent stake in rival Macerich.
That ignited rumors Simon was seeking a takeover, a move that would create the largest shopping mall owner in the U.S. by far.
This week, Simon opted to make its pursuit a matter of public knowledge.
David Simon, Simon’s chairman and CEO, said in a statement this week his company had tried several times to engage Macerich in private talks about a $22.4 billion-buyout, but its rival has so far “refused.”
“We urge Macerich to forego entrenching defensive tactics that obstruct the will of its shareholders and instead engage in serious discussions with us,” Simon said. “It is our strong preference to work with Macerich to reach a mutually beneficial agreement and we are available immediately to meet with Macerich and its advisors.”