Dan Loeb's Third Point has built a position in mall-owner Macerich Co., the real estate investment trust whose shares have come under pressure as traditional retailers battle online rivals, people familiar with the matter said.
The New York-based hedge fund owns almost 5 percent of the REIT and
is expected to agitate for change at the company, which could include a
potential sale, said the people, who asked not to be identified because
the matter is private. It’s unclear whether there have been discussions
between the activist investor and Macerich’s management or board, the
people said.. . . more