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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (518)	11/27/2004 12:45:29 PM
From: richardred	Respond to of 7259

I remember a comapany long ago called Alexanders that was in a simailar situation. Notice the Vornado connection. Target had a hard time selling off Marshall Field's, but eventually May's did buy it. In my opening address I mention that some takeovers are for defensive measures. I have analyst's comments below as an example . >RE:Alexander's Inc. is a real estate investment trust engaged in leasing, managing, developing and redeveloping properties. Alexander's activities are conducted through its manager, Vornado Realty Trust. Alexander's has seven properties. The Company owns the recently renovated Kings Plaza Regional Shopping Center on Flatbush Avenue in Brooklyn, New York, which contains 1,100,000 square feet, is comprised of a two-level mall containing 470,000 square feet, a 289,000-square-foot department store leased to Sears and another anchor department store owned and operated as a Macy's by Federated Department Stores, Inc. >RE:Marshall Field's- "That really is a good defensive move in keeping Macy's at bay, and possibly Nordstrom. In terms of buying additional ones. I could have seen where Mervyn's at Rosedale, for example, that would have been a pretty decent deal for certainly Macy's, but also Nordstrom," says Brennan. Jeff Stinson, retail industry analyst with FTN Midwest Research says Marshall Fields was a better fit for Federated, but he says May probably wanted it more, to get the Marshall Field's name.