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Mall operator Simon Property abandons $3.6 billion acquisition of Taubman

  • 📰 Reuters
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Simon Property Group Inc , the biggest U.S. mall operator, said on Wednesday it was ending its $3.6 billion deal to buy Taubman Centers Inc , citing the beating the retail sector has taken during the COVID-19 pandemic.

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.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

2020 is not a good year for M&A. I know in the LATAM we are about 50% down in trx….

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 2. in KR

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