Simon Property Group to buy Taubman Centers for $3.6 billion
Simon Property Group Inc. SPG, +0.11% said Monday it has entered an agreement to acquire mall REIT Taubman Centers Inc. TCO, -1.62% in an all-case deal valued at about $3.6 billion. Simon will pay $52.59 per Taubman share, for a 51% premium over the stock's closing price on Friday. The deal is expected to immediately boost Simon's funds from operations and to be at least 3% accretive on an annualized basis after closing.
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