Latham, Kirkland Face Off in Hostile Bid for Retail REIT
Latham & Watkins is advising Simon Property Group Inc. in its $22.4 billion hostile bid for retail real estate investment trust The Macerich Company, which has turned to Kirkland & Ellis for counsel.
March 10, 2015 at 01:40 PM
3 minute read
Simon Property Group Inc. on Monday made an unsolicited bid for rival real estate group The Macerich Company as it looks to cement its place in the high-end shopping center market.
Simon is offering $16 billion for Macerich, plus the assumption of $6.4 billion in debt. Macerich, a retail real estate investment trust based in Santa Monica, California, confirmed receipt of the bid on Monday and said that it is reviewing the financial terms with its legal and financial advisers.
Latham & Watkins is representing Simon on the proposed deal, while Kirkland & Ellis is serving as counsel to Macerich.
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