News Formal

Mall merger dispute could leave both sides losers

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

Simon Property is backing out of its purchase of rival Taubman, saying the seller mishandled Covid-19. The U-turn isn’t a vote of confidence in its dealmaking or business model, writes TheRealLSL.

Simon Property said on June 10 it is terminating its merger agreement to buy rival mall operator Taubman Centers. The two companies agreed on Feb. 9 to merge. Simon was to pay Taubman shareholders $52.50 per share in cash, equivalent to $3.6 billion.

Simon cited Covid-19, which it claims has had “a uniquely material and disproportionate effect” on Taubman properties. Simon also said that Taubman breached its obligations by not cutting operating expenses and capital expenditures in response to the pandemic.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 470. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Mall operator Simon Property abandons $3.6 billion acquisition of TaubmanSimon 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. 2020 is not a good year for M&A. I know in the LATAM we are about 50% down in trx….
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »

Robinhood traders are piling into Hertz, JCPenney, and other bankruptcy stocks despite the massive risks | Markets InsiderRobinhood traders are betting on bankrupt companies including Hertz and JCPenney, even though shareholders tend to be losers in the bankruptcy p... The speculators are gonna get burnt... Yah right Virus Survivors Could Suffer Severe Health Effects for Years ['
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Exclusive: Fiat, PSA merger hits EU roadblock, may need concessions - sourcesFiat Chrysler's planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies' market share in small vans, indicating concessions may be required, sources said. aliasvaughn Are they trying to corner the lemon market?
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »

Mall operator Simon Property abandons $3.6 billion acquisition of TaubmanSimon 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. 2020 is not a good year for M&A. I know in the LATAM we are about 50% down in trx….
출처: Reuters - 🏆 2. / 97 더 많은 것을 읽으십시오 »