Hedge Fund Farallon Capital Raises Stake in Mills Corp (MLS) to 10.9%

In an amended 13D filing on Mills Corporation (NYSE: MLS), Farallon Capital disclosed a 10.9% stake (6.145 million shares) in the company. This is up from the 9.6% stake the hedge fund disclosed in a July 27th 13D filing.

From 08/09-08/18 the investment firm bought 389,100 shares at prices from $15.16-$22.27.

The embattled mall developer recently got a boost after announcing a deal with Colony Capital and Kan Am to build and finance the Meadowlands Xanadu development project.

In February, Mills retailed Goldman Sachs and JP Morgan as financial advisors to explore strategic alternatives. The Xanadu news could make the Mills a more attractive takeover target.