Fly News Breaks for March 9, 2015
GGP, SPG, MAC
Mar 9, 2015 | 10:10 EDT
Wells Fargo thinks Simon Property Group's (SPG) strategy to reach a deal to sell some Macerich (MAC) assets to General Growth Properties (GGP) is a "clever" one, as it shrinks the potential size of the deal while also eliminating potential competition for Macerich. If a credible alternative does not emerge, the firm suspects a final deal could come in the $90-$100 per share range, though it may be possible for Macerich to be sold for $100-$110 if a competitive bidder or alternative capital plan emerges. The firm keeps its Market Perform rating on Macerich shares.
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