Mall Owners Simon And Taubman Revise Merger Terms, With $800 Million Price Cut

Luxury mall owner Taubman Centers has agreed to a lower price to merge with the biggest mall owner in America, Simon Property Group, the companies announced Sunday, evading what could have been a heated legal battle during the holidays. Under the new deal, Simon will now pay $43 per share for Taubman, down roughly 18% from an original price of $52.50. The companies also said that they have settled their pending litigation. Simon and Taubman were set to face each other in Oakland County Superior Court in Michigan, beginning Monday, to negotiate the contested deal. Read more at CNBC.