Monday, February 10, 2020

Simon to buy Taubman Centers in all-cash mega-deal

Chain Store Age
The nation’s largest mall operator is getting bigger.

Simon Property Group Inc. has entered into an agreement to acquire Taubman Centers in a deal valued at approximately $3.6 billion. Simon will acquire all of Taubman’s common stock for $52.50 a share in cash (a 51% premium to Taubman closing price on Friday, Feb.7). The Taubman family, which is selling approximately one-third of its ownership interest, will retain a 20% stake in Taubman Realty Group.. . . more