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Simon Property Shelves $4.5B CSC Bid

U.S. shopping mall owner, Simon Property Group, has dropped its plan to bid for Capital Shopping Centers Group.

    U.S. shopping mall owner,Simon Property Group, has dropped its plan to bid forCapital Shopping Centers Group(CSC),Bloombergreports. SimonProperty, 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’sTrafford Centre, which will transfer control of CSC toPeel Group,addsThe Guardian.

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