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High-end mall developer Taubman Centers Inc. has agreed to accept a price cut in its takeover by Simon Property Group Inc., in a move that will allow the companies to avoid a drawn-out legal battle that was set to start Monday.
The companies have agreed that Simon SPG, +8.04% will pay $43 a share for Taubman under the new deal, they said Sunday. That is down from the original price of $52.50.
