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Thursday, January 16, 2003
Business Digest
Simon improves its bid for rival mall proprietor
DETROIT -- Simon Property Group, which owns Seattle's Northgate Mall, has sweetened its bid to $1.74 billion for rival shopping-mall owner Taubman Centers Inc., which already has rejected two earlier offers.Simon Property said yesterday that it was offering $20 a share for all of Taubman's shares, up from its most recent offer of $18 a share, and set a Feb. 14 deadline for Taubman shareholders to accept it.
In addition, Simon said it is being joined in its latest effort by Westfield America Inc., a subsidiary of the Australian company Westfield America Trust.
New top officers
- Classmates Online Inc., a Renton company that runs an Internet site for school, military and other alumni, yesterday named Michael Smith president and chief executive, positions he has held on an interim basis for three months.
- Remote Control Technology, a Redmond company that makes wireless switching systems, yesterday named Torrey Russell, formerly of CequeLogic, vice president of sales and marketing.
- Microsoft Alumni Network, an organization of former employees of the Redmond software maker, yesterday named Kathi Jones, formerly of Aventail Corp., executive director.
Shipping news
Vessels due at the Port of Seattle today, according to the Marine Exchange of Puget Sound, include Centurion, from Long Beach, Calif., at Terminal 18-4; Direct Falcon, from Oakland, Calif., at 5-Center; and MOL Discovery, from Los Angeles, at 5-North. Due tomorrow are APL Singapore, from Kaohsiung, Taiwan, at 5-North; Haj Kang, from Sakaide, Japan, at 86; and Hoechst Express, from Vancouver, B.C., at 18-4.
This report includes information from P-I staff, The Associated Press and Bloomberg News.
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