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Simon Property Group and Taubman Centers have struck an agreement under which Simon will acquire an 80% ownership interest in The Taubman Realty Group Limited Partnership in what has been reported in Marketwatch to be an all-cash deal valued at about $3.6 billion.
Simon 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.
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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.
