Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania.
Jennah Moon | Bloomberg | Getty Images
The companies said Simon plans to acquire Taubman’s stock for $52.50 a share, or a 51% premium to where Taubman shares closed on Friday.
The news sent Taubman’s stock soaring up 52% after it resumed trading following a halt for the announcement. Simon shares were up less than 1% in premarket trading. Simon’s stock, which has a market value of $45.2 billion, is down 24% over the past 12 months.
Simon, which is known for…