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Bulletin: Ratings On Simon Property Group Not Immediately Affected By Bid For Mills Feb 07
Standard & Poors, Feb 2007
Abstract
NEW YORK (Standard & Poor's) Feb. 5, 2007--Standard & Poor's Ratings Services today said its ratings on Simon Property Group Inc. (Simon; A-/Stable/--) and all related entities are not immediately affected by the company's recently announced bid to jointly acquire The Mills Corp. (Mills; not rated) with Farallon Capital Management LLC (Farallon; not rated), a San Francisco-based investment management firm and current 10.9% Mills stakeholder. The Simon/Farallon partnership has offered $24 per share in a cash tender offer to acquire Mills, which is currently under an agreement to be acquired by Brookfield Asset Management Inc. (Brookfield; A-/Stable/A-2) for $21 per share. Simon and Farallon would acquire Mills through an equal joint venture partnership, each contributing $650 million in equity, and...
Companies mentioned in this report are: Simon Property Group, Inc,Brookfield Asset Management Inc.,Simon Property Group, L.P.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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