Simon Property said that the coronavirus outbreak “disproportionately hurt” Taubman’s malls because they are located in densely populated metropolitan areas, depend on tourism and feature high-end retailers whose sales have shrunk.
There are no discussions about renegotiating the transaction at a lower valuation, a person familiar with the matter said.
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2020 is not a good year for M&A. I know in the LATAM we are about 50% down in trx….