In the latest mega deal to fall apart due to the coronavirus, mall operator Simon Property Group is axing its $3.6 billion deal to buy Taubman Centers. Simon executives on Wednesday said Taubman breached the contract by failing to take measures to mitigate the impact of the pandemic. “The merger agreement specifically gave Simon the right to terminate the transaction in the event that a pandemic disproportionately hurt Taubman,” the company said in a statement.
source https://therealdeal.com/2020/06/10/simon-axes-3-6b-taubman-buy/
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