Simon Property Group calls off planned $3.6B acquisition

Simon Property Group canceled a deal to purchase Taubman Centers for $3.6 billion.

Simon, the operator of Battlefield Mall in Springfield, accused Taubman, the owner of Country Club Plaza in Kansas city, of breaching the agreement.

"The COVID-19 pandemic has had a uniquely material and disproportionate effect on Taubman compared with other participants in the retail real estate industry," Simon officials said.

Taubman officials said Simon's termination of the deal "is invalid and without merit."

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