• TAUBMAN SIMON SAGA: Simon Property Group Inc. extended its tender offer for Taubman Centers Inc. on Friday and Taubman once again rejected the entreaty. Simon and Westfield America Inc. extended their $20 a share all-cash offer for common shares of Taubman until midnight, Eastern time, Aug. 1. Taubman responded that Simon’s 18.9 million shares, or “only 23 percent,” of the approximately 81 million Taubman shares tendered into the offer, was “clearly insufficient to meet Simon’s own minimum tender offer condition to purchase the company,” since approximately 54 million voting shares must approve any sale or amendment to Taubman’s charter. Taubman added that its board of directors “has unanimously voted not to recommend the sale of the company at an inadequate price.”

  • AERO OFFERING: Aeropostale Inc. said certain unnamed shareholders would offer to sell up to 6.1 million common shares, or approximately 15.8 percent of the firm’s total diluted shares outstanding as of May 3, according to a filing with the Securities and Exchange Commission on Friday. The New York-based specialty retailer said it will receive no proceeds from the offering. No price has yet been set. The stock closed at $23.02 Friday, up 2 cents, or 0.9 percent. Additionally, Aeropostale said the offering will commence “as soon as practicable.”

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