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Simon Property Group and Taubman Centers have struck anagreement under which Simon will acquire an 80% ownership interestin The Taubman Realty Group Limited Partnership in what has beenreported in Marketwatch to be an all-cash deal valued atabout $3.6 billion.
Simon will acquire all of Taubman common stock for $52.50 pershare in cash and the Taubman family will sell approximatelyone-third of its ownership interest at the transaction price andremain a 20% partner.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
