U.S. shopping mall owner, Simon Property Group, has dropped its plan to bid for Capital Shopping Centers Group (CSC), Bloomberg reports. Simon Property, which owns a 5.1% stake in the U.K. real estate company, had proposed an offer price of $4.5 billion. The Indiana-based company is not planning to make a formal offer for CSC as the company will not give Simon access to its accounts. Simon was opposing CSC’s acquisition of Manchester’s Trafford Centre, which will transfer control of CSC to Peel Group, adds The Guardian.
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