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| Simon and Farallon offer around $1.56 billion for Mills  Mills Corporation has received a proposal from Simon Property Group, Inc., the world's No. 1 shopping mall owner, and Farallon Capital Management, L.L.C., Mills' largest shareholder, to acquire Mills Corp. for $24 in cash per share, or $1.56 billion. The proposal also contemplates replacing an offer of $1.35 billion by a Canadian investment group, Brookfield Asset Management. Mills said Brookfield bid $21 a share remains in effect. Mills gives no assurance as to whether the Simon/Farallon proposal will lead to a definitive binding agreement with the group.The Mills Corporation, based in Chevy Chase, MD, is a developer, owner and manager of a diversified portfolio of retail destinations, including regional shopping malls and market-dominant retail and entertainment centers. It currently owns 38 properties in the United States totaling approximately 47 million square feet. write your comments about the article :: © 2007 Construction News :: home page |