U.S. firm Simon Property (SPG.N) gave up its 2.9 billion pound ($4.5 billion) bid to take over Britain's Capital Shopping Centres (CSC) (CSCG.L) on Tuesday, paving the way for the UK's largest mall-owner to buy the Trafford Centre mall. Analysts had predicted Simon would give up rather than raise its 425 pence per share offer to buy CSC, after CSC on Friday cut the price it would pay for the Trafford Centre in Manchester to boost its a defence against Simon's approach. [ID:nLDE70609M] [ID:nN07202766] "It came as no surprise to us to see Simon walk away from bidding for CSC. The CSC management has made it perfectly clear that the company is not for sale, and that major shareholders back this stance," Olivetree Securities strategist Mark Kelly said in a note.
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