Macerich Confirms Receipt Of Revised $95.50/shr Proposal From Simon Property

(RTTNews) - Macerich Co. (MAC) confirmed that it has received a revised, unsolicited proposal from Simon Property Group Inc. (SPG) to acquire the Company for $95.50 per share in cash and stock.

Macerich said its board will review the Revised Proposal with its financial and legal advisors. Macerich stockholders are advised to take no action at this time.

Macerich noted that on March 9, 2015, Simon proposed to acquire Macerich for $91.00 per share in cash and stock.

On March 17, 2015, after a comprehensive review conducted in consultation with its financial and legal advisors, the Board unanimously determined that the unsolicited proposal to acquire the Company for $91.00 per share in cash and stock substantially undervalued Macerich and was not in the best interests of Macerich and its stockholders.