Simon ups offer for rival
Thursday, Dec. 5, 2002 | 11:19 a.m.
DETROIT -- Mall operator Simon Property Group upped its offer for smaller rival Taubman Centers to roughly $1.5 billion in the latest of its takeover efforts.
Taubman, which rejected Simon's earlier unsolicited offer, said today that its board will evaluate the latest bid of $18 cash per share, a 50-cent increase over the prior proposal.
Simon owns the Forum Shops at Caesars and is a partner in a downtown Las Vegas outlet mall project.
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