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CSC Lowers Bid For Trafford Centre
Capital Shopping Centers has reduced its offer for Manchester’s Trafford Centre.
Capital Shopping Centers (CSC) has reduced its offer for Manchester’s Trafford Centre, Reuters reports. The U.K. mall owner will now issue around 205.9 million new shares to Peel Group, down from the 224.1 million previously agreed.
The London-based real estate company is seeking to fend off a $4.5 billion bid from U.S. mall owner, Simon Property Group, for its business. Indiana-based Simon’s has a 5.1% stake in CSC that would be diluted by the Peel deal, which it opposes.
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