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The global fashion business journal

Feb 19, 20206:26pm

Simon Property buys Taubman Centers for 3.6 million dollars

The US shopping malls developer has made an offer with a share premium of 51% on the value of Taubman’s shares at the closure of Friday’s.

Feb 11, 2020 — 4:02pm
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Simon Property buys Taubman Centers for 3.6 million dollars

 

 

Simon property to acquire rival mall. The Simon Property group, the largest developer and manager of shopping centers in the United States, has purchased Taubman Centers for 3.6 billion dollars. This figure represents a share premium of 51% on the value of Taubman’s shares at the closure of the stock market last Friday.

 

Simon will buy 80% of the company’s shares, while the rest will continue in the hands of the Taubman family, who until now, controlled 60% of the capital.

 

Taubman has a portfolio of 24 shopping centers in the United States and Asia totaling 7.6 million square meters. The agreement contemplates that the current management team of the company continue to manage the assets of its portfolio.

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