Simon Property Group, Inc.

+4.35 (+4.85%)
4:53:26 PM EDT: $93.48 -0.50 (-0.53%)
Mergers / Acquisitions

Simon And Taubman Modify Merger Price To $43.00 Per Share In Cash

Published: 11/15/2020 23:04 GMT
Simon Property Group Inc (SPG) - Simon and Taubman Modify Merger Price to $43.00 per Share in Cash.
Simon Property - Modified Merger Agreement Continues to Provide Simon Will Acquire 80% Ownership Interest in Taubman Realty Group Limited Partnership.
Simon Property Group - Taubman Family Will Sell About One-third of Its Ownership Interest at the Transaction Price and Remain a 20% Partner in Trg.
Simon Property - Boards of Simon and Taubman, Including Special Committee of Independent Directors of Taubman, Approved Terms of Transaction.
Simon Property - Agreement Provides Taubman Will Not Declare, Pay Dividend on Stock Prior to March 1, and Then, Only Subject to Certain Limitations.
Simon Property - Merger is Expected to Close in Late 2020 Or Early 2021, Subject to Taubman Shareholder Approval and Customary Closing Conditions.
Simon Property - Simon and Taubman Also Have Settled Their Pending Litigation in Circuit Court for 6(th) Judicial District, Oakland County, Michigan.