Simon Property Ends Taubman Deal as Coronavirus Hits Retail

Simon Property Group Inc. SPG -14.34% is terminating its $3.6 billion deal to acquire Taubman Centers Inc., TCO -1.20% the latest sign of the severe pressure the retail sector and mall industry are contending with during the coronavirus pandemic. The deal, announced in February, would have combined two landlords as the industry struggles with an oversupply of malls and the decline of traditional retail stores against the rising tide of e-commerce.