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BUSINESS
March 6, 2003
* Provident Financial Group Inc., almost half owned by financier Carl Lindner's family, said it overstated profit by $70 million in the last six years because of improper accounting of automobile lease transactions. * Taubman Centers Inc.'s board rejected rival mall company Simon Property Group Inc.'s latest offer to structure a takeover that would minimize taxes for the company's founding family. * ImClone Systems Inc. said it received a $60-million payment from Bristol-Myers Squibb Co.
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BUSINESS
May 13, 2006
Advertising group Publicis and Simon Property Group, the biggest U.S. mall owner, announced a joint venture to create an in-mall TV network that would broadcast news and entertainment.
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BUSINESS
December 6, 2002 | From Bloomberg News
Simon Property Group Inc., the largest mall owner, made a $3.83-billion hostile bid for rival Taubman Centers Inc. The $18-a-share tender offer is 50 cents more than the unsolicited bid Taubman Centers rejected last month. Simon owns six properties in California, including Brea Mall, Westminster Mall and the Shops at Mission Viejo. Taubman owns the Beverly Center in Los Angeles. Taubman Center shares rose 29 cents to $16.75, and shares of Indianapolis-based Simon Property rose 28 cents to $33.
BUSINESS
June 22, 2004 | From Reuters
Mall owner Simon Property Group Inc. said Monday that it had agreed to buy Chelsea Property Group Inc. for $3.5 billion, boosting its outlet shopping center business and giving it a presence in Asia. The acquisition highlights a mall property market where prices are too hot to touch, so buyers like Indianapolis-based Simon, the largest U.S. shopping mall owner, have turned to outlet centers as a way to grow, executives and analysts said.
BUSINESS
December 15, 1993 | From Times Staff and Wire Reports
Mall Magnate Raises More Than $800 Million: Mall and shopping center magnate Melvin Simon raised the amount in the nation's largest initial public offering of a real estate investment trust, while developer Edward J. DeBartolo postponed what would have been the third-largest REIT IPO. Simon is the latest in a string of high-profile real estate developers who this year have rushed to tap the public markets for low-cost capital in the wake of falling interest rates. Simon Property Group Inc.
BUSINESS
March 19, 2003 | From Reuters
Simon Property Group Inc. and Westfield America Trust said they planned to nominate four directors to the board of Taubman Centers Inc., signaling their determination to take over the rival mall owner, which has rejected buyout offers. Simon, the No. 1 U.S. mall owner, and Westfield aim to take three of the eight Taubman seats that are up for election and also to fill the position left vacant by founder A.
BUSINESS
December 12, 2002 | From Bloomberg News
Taubman Centers Inc. rejected Simon Property Group Inc.'s second offer to buy the mall developer, saying the $3.83-billion bid doesn't reflect the value of projects the company has just completed. Simon Property last week started an $18-a-share tender offer for its rival after a $17.50 bid was rejected. Taubman Centers owns or manages 30 of the most profitable malls in the country, including the Beverly Center in Los Angeles.
BUSINESS
February 18, 2003 | From Bloomberg News
Simon Property Group Inc., the world's largest mall owner, said holders of 85% of the common stock in rival mall owner Taubman Centers Inc. agreed to its $4.25-billion offer. About 44.1 million of 52.2 million Taubman Centers shares were tendered as of Friday, said Dan Gagnier, a spokesman for Simon Property, which is joined in its bid by Australia's Westfield America Inc.
BUSINESS
February 7, 2001 | Bloomberg News
The son and daughter of the late Edward J. DeBartolo completed the split of the real estate and entertainment holdings left to them by the developer. Edward DeBartolo Jr. said he assumed control of Youngstown, Ohio-based Edward J. DeBartolo Corp.'s real estate development operations, including its stake in Simon Property Group Inc., the nation's largest mall owner. The 11.3% stake is worth about $583 million.
BUSINESS
January 14, 2002 | From Bloomberg News
An agreement by Westfield America Trust, Simon Property Group Inc. and Rouse Co. to buy Rodamco North America in a $5.3-billion transaction, ending a six-month battle for control of the fourth-largest owner of shopping malls in the U.S. Australian property company Westfield, whose U.S. operations are based in Los Angeles, will acquire interests in 14 of Rodamco's 35 malls, becoming one of the biggest mall managers in the U.S. Simon, the No.
BUSINESS
March 19, 2003 | From Reuters
Simon Property Group Inc. and Westfield America Trust said they planned to nominate four directors to the board of Taubman Centers Inc., signaling their determination to take over the rival mall owner, which has rejected buyout offers. Simon, the No. 1 U.S. mall owner, and Westfield aim to take three of the eight Taubman seats that are up for election and also to fill the position left vacant by founder A.
BUSINESS
February 18, 2003 | From Bloomberg News
Simon Property Group Inc., the world's largest mall owner, said holders of 85% of the common stock in rival mall owner Taubman Centers Inc. agreed to its $4.25-billion offer. About 44.1 million of 52.2 million Taubman Centers shares were tendered as of Friday, said Dan Gagnier, a spokesman for Simon Property, which is joined in its bid by Australia's Westfield America Inc.
BUSINESS
December 12, 2002 | From Bloomberg News
Taubman Centers Inc. rejected Simon Property Group Inc.'s second offer to buy the mall developer, saying the $3.83-billion bid doesn't reflect the value of projects the company has just completed. Simon Property last week started an $18-a-share tender offer for its rival after a $17.50 bid was rejected. Taubman Centers owns or manages 30 of the most profitable malls in the country, including the Beverly Center in Los Angeles.
BUSINESS
December 6, 2002 | From Bloomberg News
Simon Property Group Inc., the largest mall owner, made a $3.83-billion hostile bid for rival Taubman Centers Inc. The $18-a-share tender offer is 50 cents more than the unsolicited bid Taubman Centers rejected last month. Simon owns six properties in California, including Brea Mall, Westminster Mall and the Shops at Mission Viejo. Taubman owns the Beverly Center in Los Angeles. Taubman Center shares rose 29 cents to $16.75, and shares of Indianapolis-based Simon Property rose 28 cents to $33.
BUSINESS
January 14, 2002 | From Bloomberg News
An agreement by Westfield America Trust, Simon Property Group Inc. and Rouse Co. to buy Rodamco North America in a $5.3-billion transaction, ending a six-month battle for control of the fourth-largest owner of shopping malls in the U.S. Australian property company Westfield, whose U.S. operations are based in Los Angeles, will acquire interests in 14 of Rodamco's 35 malls, becoming one of the biggest mall managers in the U.S. Simon, the No.
BUSINESS
February 7, 2001 | Bloomberg News
The son and daughter of the late Edward J. DeBartolo completed the split of the real estate and entertainment holdings left to them by the developer. Edward DeBartolo Jr. said he assumed control of Youngstown, Ohio-based Edward J. DeBartolo Corp.'s real estate development operations, including its stake in Simon Property Group Inc., the nation's largest mall owner. The 11.3% stake is worth about $583 million.
BUSINESS
June 22, 2004 | From Reuters
Mall owner Simon Property Group Inc. said Monday that it had agreed to buy Chelsea Property Group Inc. for $3.5 billion, boosting its outlet shopping center business and giving it a presence in Asia. The acquisition highlights a mall property market where prices are too hot to touch, so buyers like Indianapolis-based Simon, the largest U.S. shopping mall owner, have turned to outlet centers as a way to grow, executives and analysts said.
BUSINESS
July 28, 1998 | From Bloomberg
Simon DeBartolo Group, the U.S.' largest shopping mall developer, is changing its name back to Simon Property Group, four months after the resignation of Edward DeBartolo Jr. from the company's board. The Indianapolis-based company said the change has been approved by its board and that it expects it to become effective on the completion of its $5.8-billion purchase of Corporate Property Investors Inc.
BUSINESS
February 17, 1999 | KURT STREETER, TIMES STAFF WRITER
Time Inc., in its second custom-publishing deal in two weeks, said Tuesday that it will produce a specialty magazine for shoppers at malls owned by Simon Property Group, the largest U.S. owner of commercial malls. Starting in March, the companies will publish S, a monthly magazine that will be distributed free at Simon's 243 malls. The Indianapolis-based company owns four shopping centers in Southern California: Mission Hills Mall, Brea Mall, Westminster Mall and Laguna Hills Mall.
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