By  on February 10, 2020

The largest Real Estate Investment Trust in the U.S., Simon Property Group, today said it has entered into a definitive agreement to acquire 80 percent of Taubman Realty Group Limited Partnership for $3.6 billion in cash.

According to the terms of agreement, Simon through its operating partnership, Simon Property Group L.P. will acquire all Taubman common stock for $52.50 a share in cash and the Taubman family will sell about one-third of its ownership interest at the transaction price and remain a 20 percent partner, with the purchase price representing a 6.2 percent underwritten capitalization rate.

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