Schindler Elevator awarded national service contract with Simon Property Schindler Elevator has been awarded a multi-million-dollar national service contract with Simon Property Group to maintain over 750 elevators and escalators in 81 shopping malls as well as two office buildings across the United States. The contract includes full maintenance. Under the agreement, Schindler is also a provider for modernization and repair work, including escalator replacements.
Simon Property looking to force transaction with Macerich, says Wells Fargo Wells Fargo believes Simon Property Group (SPG) disclosed its 3.6% stake in Macerich (MAC) and requested a waiver from Macerich's 5% ownership limit since it is likely looking to force a transaction. However, Wells does not believe Macerich management is interested in a sale at this time and that this may remain an ongoing conversation "well into" 2015. The firm has an Outperform rating on Simon.