Simon Property and Farrallon tender offer for The Mills

Real estate investment trust Simon Property Group Incorporated and investment company Farallon Capital Management LLC have announced they have begun a tender offer to purchase all outstanding shares of shopping mall developer, The Mills Corporation, for $25.25 per share.

The duo originally announced their plans earlier in February when they outbid Brookfield Asset Management with the $1.64 billion offer.

The tender offer put forth by the two companies is good for one month and is scheduled to expire on March 28.

Shares of Mills Corp. were trading Thursday morning at $25.05, up from Wednesday’s close of $24.97.

Simon Property was trading at $111.32 Thursday morning, down from $112.74 at close on Wednesday.

Headquartered in Indianapolis, Ind., Simon Property Group Inc. develops, owns and manages regional retail real estate throughout the world with 286 properties in the United States and Puerto Rico, and interest in 53 more in Europe.

The Mills Corp. owns more than three dozen retail properties throughout the U.S. — TRACIE STONE

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