Big American shopping mall merger
The biggest US shopping mall ownerr Simon Property will buy rival Taubman for $3.6bn
The biggest US shopping mall operator Simon Property has bought out its rival Taubman for $3.6bn. The Taubmann family which built the business over the last 70 years will continue to own 20% of the company, but the take-over is a sign of the times - with consolidation driving economies of scale and savings in the face of online shopping and declining profits among their tenants. However the idea of a take-over has been around for a while, as Richard Hyman, retail analyst with RHA Advisory explains.
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(Picture: A store in an American shopping mall. Credit: Getty Images.)
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- Mon 10 Feb 2020 22:32GMTΒι¶ΉΤΌΕΔ World Service