Simon Property Group Inc , the biggest U.S. mall operator, said it reached an agreement to cut the price of its looming takeover of rival Taubman Centers Inc to US$43 a share in cash, the companies said on Sunday.
Under the original agreement announced in February, Taubman shareholders were to receive US$52.50 per share in cash.The revised agreement continues to provide that Simon will acquire an 80per cent ownership in The Taubman Realty Group Ltd Partnership, they said.
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