© 2023 WVIK
Listen at 90.3 FM and 98.3 FM in the Quad Cities, 95.9 FM in Dubuque, or on the WVIK app!
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Bid for QC Mall Owner Called Off

Two of the largest owners of shopping malls in the US will not get together after all. The Simon Property Group has called off its hostile take-over bid for the Macerich Company.  

Simon withdrew its offer of $95.50 per share, totaling more than 16 billion dollars, after the Macerich board unanimously rejected the bid. Macerich owns Northpark and Southpark in the Quad Cities, after buying them from Simon several years ago. 
Two weeks ago Simon, which is based in Indianapolis, raised its bid, calling it a best and final offer. Counting Macerich debt, the new offer was valued at $23.2 billion. 
 Macerich is based in Santa Monica, California. 
 Simon made its bid for Macerich public in early March after saying that the shopping center owner refused to negotiate.

A native of Detroit, Herb Trix began his radio career as a country-western disc jockey in Roswell, New Mexico (“KRSY, your superkicker in the Pecos Valley”), in 1978. After a stint at an oldies station in Topeka, Kansas (imagine getting paid to play “Louie Louie” and “Great Balls of Fire”), he wormed his way into news, first in Topeka, and then in Freeport Illinois.