Simon Property Group Inc. is unlikely to buy Capital Shopping Centres Group Plc because it will take too long for rents to rise enough to justify a price its U.K. counterpart would accept, according to Barclays Capital real estate analysts.
In rejecting Simon’s offer, London-based Capital Shopping Centres Group said the cash bid “very substantially undervalues the company and its prospects."
A series of questionable decisions by Bren Simon in recent months appear to have paved the way for a Hamilton County judge’s order this week removing Bren as interim trustee over Simon Property Group co-founder Melvin Simon’s estate.
Capital Shopping Centres Group Plc, the United Kingdom’s biggest shopping mall owner, turned down Simon Property Group Inc.’s $4.6 billion bid, describing it as “inadequate.”
Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, made an offer for Capital Shopping Centres Group Plc that values the U.K. company at $4.6 billion.
Simon Property Group Inc. may be running out of options in its quest to take over Capital Shopping Centres Group Plc and become the largest mall owner in the United Kingdom.
Capital Shopping Centres Group Plc, Britain’s biggest shopping-mall owner, rejected a financing plan that would have given potential suitor Simon Property Group Inc. a larger stake in the company.
Indianapolis-based Simon Property Group Inc. will end its interest in buying Capital Shopping Centres Group Plc if the U.K. company doesn’t provide information necessary to evaluate a bid.
Simon Property Group Inc. has offered to settle a lawsuit with Bren Simon by cashing out 6.5 million partnership units her late husband Melvin held in the giant shopping mall developer.
Attorneys for Bren Simon turned their ire toward a Hamilton County judge on Tuesday, asking him to recuse himself from a legal battle over real estate magnate Melvin Simon's $2 billion estate.
Shares of Capital Shopping Centres Group Plc, Britain’s biggest mall owner, rose the most since the company went public in 1992 after saying Indianapolis-based Simon Property Group Inc. may offer more than $3.6 billion in cash for the company.
Indianapolis-based Simon Property Group Inc., the U.S. shopping-mall owner that paid $2.3 billion this year for an outlet-center business, has plenty of capital for more purchases, CEO David Simon said Tuesday.
The U.S. Federal Trade Commission said it is requiring Indianapolis-based Simon Property Group Inc., the largest U.S. mall owner, to sell outlets in a settlement related to the $2.3M purchase of Prime Outlets Acquisition Co.
General Growth exits bankruptcy with more than 183 regional malls in 43 states — a retail portfolio second only to Indianapolis-based Simon Property Group Inc., which failed in its bid to scoop up its rival earlier this year.
A Hamilton County judge will allow Bren Simon to take about $3.3 million per year of the estimated $43 million in annual dividend and interest income from her late husband's estate.
Simon Property Group Inc., the largest U.S. shopping-mall owner, said third-quarter profit declined from a year ago after the company recorded an expense to buy back debt.
General Growth Properties Inc. said Thursday a bankruptcy judge has approved its reorganization plan, clearing the way for the Simon Property Group rival to emerge from Chapter 11 bankruptcy protection early next month.
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
The current expansion has absorbed the last of the adjoining space, leaving the convention center landlocked.
Mark Palombaro, a former senior vice president of development, will pay the company $766,000, settling a lawsuit that accused him of getting kickbacks on construction contracts.
