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Mills Sets Date for Shareholder Meeting

CHEVY CHASE, MD-The meeting date was set before Gazit-Globe announced its planned to file suit to compel the company to hold the meeting, a spokesperson says.

By Erika Morphy | Updated on November 13, 2006

CHEVY CHASE, MD-The Mills Corp. says it is planning to hold its annual shareholders meeting on Dec. 21. The announcement comes less than a week after Mills shareholder Gazit-Globe filed a complaint that the company was avoiding a shareholder meeting.

According to a company spokesperson, the meeting had been set for some time and before it became the focus of a tug-of-war between Mills and Gazit-Globe. The Israeli real estate firm acquired a 9% stake in the firm in October. Last week Gazit filed a complaint against the company in a Delaware court to compel Mills to hold the meeting in a timely manner, as reported by GlobeSt.com. Gazit’s motivation, the company has said, was to put its proposal, which includes $1.2 billion to recapitalized it, before the company’s stockholders and give them enough time to consider the proposal.

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