NEW YORK—The nation’s largest mall owner is backing out of a $3.6 billion deal to buy a major rival as the CCP (Chinese Communist Party) virus pandemic shakes the retail industry.
Simon Property Group announced it would buy Taubman in early February, just weeks before the Centers for Disease Control and Prevention announced the first known case of COVID-19 in the United States. Clothing stores and malls nationwide were ordered to close the following month.
