Macerich Directors Nominated by Litt as Takeover Rejected

Land & Buildings Investment Management, an activist real estate hedge-fund firm founded by Jonathan Litt, nominated four directors to Macerich Co.’s board as the mall owner turned down a takeover bid from Simon Property Group Inc.

Litt said he made the nominations because he objected to measures taken by Macerich to defend itself against Simon’s acquisition attempt. The nominations were made Tuesday before a submission deadline, he said in an interview.