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CSC Rejects £2.9B Simon Property Takeover Bid

Law360 (December 15, 2010, 6:00 PM EST) -- Capital Shopping Centres Group PLC rejected Simon Property Group Inc.'s £2.9 billion ($4.6 billion) takeover bid Wednesday, describing the offer as just another effort by the U.S. real estate developer to block the British group from acquiring a massive shopping center near Manchester, U.K.

Simon Property offered to pay 425 pence per share of CSC stock Wednesday on the condition that the company halts plans to buy the Trafford Centre for £1.6 billion.

After CSC announced the Trafford Centre deal in late November, Simon Property Chairman...
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