On Monday, Simon Property Group (NYSE: SPG) and peer Taubman Centers (NYSE: TCO) announced in a joint press release that they've amended the terms of their merger agreement.
Under the new terms of the deal, Simon will essentially acquire Taubman, paying $43 per share for an 80% stake in its fellow retail real estate investment trust (REIT). That price is the most notable term of the modified deal, as it's down from the originally agreed $52.50.
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Simon Property Group and Taubman Centers Agree on New Merger Deal