Corrects Headline to Show 'Guidance is Lowered'
Macerich Co. (MAC) announced that it intends to offer to sell 12 million shares of its common stock in an underwritten public offering. Macerich intends to grant the underwriters a 30-day option to purchase up to 1.80 million additional shares to cover over-allotments, if any. Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc. are acting as joint book-running managers and underwriters for the offering.
Macerich intends to use the net proceeds of the offering to repay a portion of the outstanding balance under its $1.5 billion revolving line of credit.
For fiscal 2009, the company now anticipates FFO per share to be in the range of $3.50 - $3.80 compared to earlier outlook of $4.25 - $4.55.
For fiscal 2009, the company now expects earnings per share to be in the range of $1.40 - $1.70.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.