Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania.

Jennah Moon | Bloomberg | Getty Images

U.S. shopping centers owner agreed to be bought by larger peer  in a deal valued at $3.6 billion, the companies said on Monday.

Under terms of the deal, Simon will aquire all of Taubman’s common stock for $52.50 a share.

CNBC contributeed to this report.

This is breaking news. Please check back for updates.



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