June 10, 2020 / 2:11 PM / a month ago

Mall operator Simon Property terminates $3.6 bln deal to buy rival Taubman

June 10 (Reuters) - Simon Property Group Inc, the biggest U.S. mall operator, said on Wednesday it would terminate its $3.6 billion deal to buy Taubman Centers Inc due to the damage done by the coronavirus pandemic to its rival's business.

Simon Property said that COVID-19 caused an adverse impact on Taubman's business, leading it to breach the covenants in the merger agreement. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below