Mergers & Acquisitions
By The Online Investor Staff, updated Wed., Feb. 26, 6:36 PM
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Slide #85. Simon Property Group, Inc. — Taubman Centers, Inc.
Acquirer:
Simon Property Group, Inc. (SPG)
Acquiree:
Taubman Centers, Inc. (TCO)
Details:
Simon Property Group, Inc. (NYSE: SPG) ("Simon") and Taubman Centers, Inc. (NYSE: TCO) ("Taubman") today announced that they have entered into a definitive agreement under which Simon will acquire an 80% ownership interest in The Taubman Realty Group Limited Partnership ("TRG"). Simon, through its operating partnership, Simon Property Group, L.P., will acquire all of Taubman common stock for $52.50 per share in cash and the Taubman family will sell approximately one-third of its ownership interest at the transaction price and remain a 20% partner in TRG.
Simon Property Group operates as a self-administered and self-managed real estate investment trust. Simon Property Group, L.P. is Co.'s majority-owned Delaware partnership subsidiary that owns all of its real estate properties and other assets. Co. owns, develops and manages shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets®, and The Mills® in United States as well as internationally including Puerto Rico, Asia, Europe and Canada. Co. also owned equity stake in Klepierre SA, a Paris-based real estate company, which owns, or has an interest in, shopping centers in Europe.
Simon Property Group SEC Filing Email Alerts Service
Preferred: SPG.PRJ
Open the SPG Page at The Online Investor » Simon Property Group operates as a self-administered and self-managed real estate investment trust. Simon Property Group, L.P. is Co.'s majority-owned Delaware partnership subsidiary that owns all of its real estate properties and other assets. Co. owns, develops and manages shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets®, and The Mills® in United States as well as internationally including Puerto Rico, Asia, Europe and Canada. Co. also owned equity stake in Klepierre SA, a Paris-based real estate company, which owns, or has an interest in, shopping centers in Europe.
Simon Property Group SEC Filing Email Alerts Service
Preferred: SPG.PRJ
Open the TCO Page at The Online Investor »
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