Simon Property Welcomes Adjournment Of Capital Shopping Centres EGM

Simon Property Welcomes Adjournment Of Capital Shopping Centres EGM ; LONDON (Dow Jones)--Simon Property Group Inc. (SPG), the U.S.'s largest shopping-mall owner, said Wednesday that it welcomes the announcement by Capital Shopping Centres Group (CSCG.LN) that it has decided to adjourn its proposed EGM until late-January.

MAIN FACTS:

-Simon believes its indicative offer of 425 pence per share represents a full and fair valuation for Capital Shopping Centres, allowing shareholders to receive a substantial premium to Capital Shopping Centres's latest NAV and to the price of 367 pence, at which Capital Shopping Centres is proposing to issue 25% of its shares to Peel Group.

-The conditions set forth in Simon's indicative offer are customary and should pose no barrier towards consummating a transaction.

-Capital Shopping Centres Group stated on 8 Dec. that it would not provide customary non-public due diligence information in light of the fact that Simon had not made an indicative offer.

-Simon has made an indicative offer, and expect Capital Shopping Centres Group to provide the information requested so that Simon is in a position to make a formal offer for the benefit of Capital Shopping Centres Group's shareholders.

-Simon stands ready to commence due diligence immediately. Read More Capital Shopping Centres rejects £3bn takeover bid from Simon Property For the latest updates PRESS CTR + D or visit Stock Market news Today

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