Tuesday 30 November 2010

Capital bid for Trafford Centre prompts offer from US property firm Simon | Business | The Guardian

Capital bid for Trafford Centre prompts offer from US property firm Simon | Business | The Guardian

An American property company has emerged as a possible bidder for the retail property specialist Capital Shopping Centres, in a move that could value the owner of the MetroCentre in Gateshead and Lakeside in Thurrock at more than £3bn.

The approach by the Indianapolis-based Simon Property, which owns 5.6% of Capital, was prompted by Capital's plans to buy Manchester's Trafford Centre in a £1.6bn deal. Simon said it was prepared to make a cash offer at a substantial premium to Capital's net asset value, if Capital postponed the Manchester deal and an associated fundraising

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