Mall Landlord Simon Property Terminates Taubman Deal as Coronavirus Hits Retail

Simon Property Group Inc. is terminating its $3.6 billion deal to acquireTaubman Centers Inc., saying the rival mall owner didn’t respond appropriately to the business challenges caused by the coronavirus pandemic.

The deal, announced in February, would have combined two mall landlords as the industry struggles with the decline of traditional retail stores against the rising tide of e-commerce.