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Tuesday, Aug 9, 2022
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Maguire Deal ‘Derailed,’ Newsletter Says

Shares in Maguire Properties Inc. shed as much as 16 percent during trading Friday after a real estate newsletter said an acquisition deal involving the company’s founder had been “derailed.”


The real estate investment trust newsletter, Newshound, said Friday that a proposed deal involving Robert Maguire III to buy 75 percent of the company he founded, worth about $750 million, would not be consummated.


This comes two weeks after Maguire Properties reported that it had more than tripled its first quarter loss when compared to the same period a year earlier.


Shares in Maguire Properties closed down 8 percent to $15.24 in trading Friday.

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