Buyers Battle for Mills

Shares soared Monday after a group led by Simon Property offered $24 a share for the shopping mall outfit, topping bids from two other rivals

The bidding war for shopping-mall operator Mills Corp. (MLS) continues. Simon Property Group (SPG) and Farallon Capital Management said Feb. 5 that they're offering around $1.56 billion for Mills, or $24 per share. This follows the Israeli real estate company Gazit-Globe's complex offer announced on Jan. 17 to recapitalize Mills for an average $22 per share - when the Canadian investment firm Brookfield Asset Management (BAM) made its own bid of $21 per share in cash.

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