Simon Property Group Inc. ended a hostile bid for The Macerich Co. today after the Macerich board of directors voted unanimously Tuesday to reject an offer of $95.50 per share in cash and stock. The vote was the second time the board of the owner of shopping centers, including Southridge Mall in Des Moines, had turned down an offer from Simon, the nation’s largest mall owner. Greater Des Moines businessman Fred Hubbell, who sits on the Macerich board, said in a release that the board and Macerich management were “absolutely united in the belief that the execution of Macerich’s business strategy will deliver more value for stockholders than Simon’s proposal.” Macerich was founded in central Iowa and is led by Des Moines natives Art Coppola, chairman and CEO, and his brother, Ed, president.The Simon offer was valued at more than $23 billion, including debt. Macerich changed its board structure and took other steps to thwart Simon. Macerich is the nation’s third largest owner of shopping malls. The company is based in Santa Monica, Calif.