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BREAKING: Mills accepts Simon buyout offer

February 16, 2007

An offer from Indianapolis-based Simon Property Group and a partner for Mills Corp. has been accepted by the Chevy Chase, Md., shopping center developer.

Mills said today that accepting the $1.64 billion means it has ended its previous merger agreement with Toronto-based Brookfield Asset Management Inc.

Simon partnered with Farallon Capital Management of San Francisco to make the offer.

This story will be updated at www.IBJ.com.

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