Deals
Simon Property Abandons Offer for Capital Shopping
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Simon Property Group Inc., the largest U.S. shopping mall owner, abandoned its bid for Capital Shopping Centres Group Plc after the U.K. company resisted Simon’s takeover interest.
Simon doesn’t plan to make a formal offer for Capital Shopping because the company won’t give Simon access to its accounts, the Indianapolis-based mall investor said in a statement today. Simon made a conditional bid of 425 pence a share in cash on Dec. 15, valuing Capital Shopping at 2.9 billion pounds ($4.5 billion). On Jan. 7, Capital Shopping said it was worth as much as 625 pence a share to a bidder.