Dealmakers Are Going Mall Shopping, Even If You Don’t: Gadfly

(Bloomberg Gadfly)—Struggling retailers may soon have fewer landlords. Two of the nation’s biggest mall owners — GGP Inc. and Macerich Co. — could feasibly be acquired in the near future.

Over the weekend, $21 billion GGP received a bid, albeit at a slim premium, from its biggest shareholder, Brookfield Asset Management Inc. And Macerich may be pushed into the arms of a suitor if Dan Loeb’s Third Point LLC, which last week disclosed a stake in the $9 billion mall-owner, can successfully agitate for change.

Percentage of U.S. Retail Shopping Done Online < 10%

Despite the pain their tenants are enduring as consumers lean on e-commerce alternatives, these landlords are prime consolidation candidates because their portfolios are largely comprised of “Class A” malls, which have the best possible growth prospects and seem most likely to stay relevant.

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