Simon told to bid for CSC or walk
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Simon Property Group, the US shopping centre business, was given until 12 January yesterday to make a formal bid for Capital Shopping Centres Group, with which it has been engaged in a high-profile spat for the past 10 days, or walk away for at least six months.
The "put up or shut up" deadline from the Takeover Panel follows an indicative offer by Simon of 425p a share for CSC this week, which the British company rejected.
However, CSC has been forced to postpone a company meeting at which it is asking shareholders to back its plans for the £1.6bn purchase of the Trafford Shopping Centre on the outskirts of Manchester.
Simon is opposed to this deal, which would see thecurrent Trafford centre owner, Peel Group, become CSC's largest shareholder.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments