The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Macerich Co (NYSE:MAC), was initiated concerning whether the takeover of Macerich Co. by Simon Property Group, Inc. is unfair to NYSE:MAC stockholders.
Investors who purchased shares of Macerich Co (NYSE:MAC) and currently hold any of those NYSE:MAC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain officers and directors of Macerich Co breached their fiduciary duties owed to NYSE:MAC investors in connection with the proposed acquisition.
On March 9, 2015, Macerich Co confirmed that it has received an unsolicited, conditional proposal from Simon Property Group, Inc. to acquire the Macerich Co for $91.00 per share in cash and stock.
On March 17, 2015 Macerich Co announced that its Board of Directors, after consulting with its financial and legal advisors, unanimously determined that the unsolicited, conditional proposal from Simon Property Group, Inc. (NYSE: SPG) (“Simon Property Group”) to acquire the Company for $91.00 per share in cash and stock substantially undervalues Macerich and is not in the best interests of Macerich and its stockholders.
Indeed, given that at least one analyst has set the high target price for NYSE:MAC shares at $95 per share and given that NYSE:MAC shares reached after the takeover offer in the open market as high as $95.93 per share on March 16, 2015, the investigation concerns whether the Macerich Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders’ best interests in connection with the proposed sale.
On March 24, 2015, NYSE:MAC shares closed at $126.69 per share.
Those who are current investors in Macerich Co (NYSE:MAC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego