Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Tenders 2007 > News item |
Mills begins tender offer for 6.75% convertible preferreds
By Angela McDaniels
Seattle, April 18 - The Mills Corp. began an offer to purchase the outstanding shares of its 6.75% series F convertible cumulative redeemable preferred stock, according to a company news release.
The offer will expire at 5 p.m. ET on May 17.
The company said it will pay $1,000 per share plus accumulated dividends to the payment date, without interest. Assuming the shares are accepted for payment on May 18, the total cash purchase price will be $1,053.625 per share.
The offer is being made under the change-of-control provision in the certificate of designations for the stock following the acquisition of Mills by Simon Property Group, Inc. and Farallon Capital Management, LLC on April 3.
The companies announced the $1.64 billion merger deal on Feb. 16 and on March 29 said that shareholders had tendered 96.8% of Mill's outstanding common shares for $25.25 each.
Mills is a retail developer based in Chevy Chase, Md.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.