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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/capital-rift-over-mall-deal-deepens.jpg"><img class="alignnone size-full" title="The row between Lakeside owner Capital Shopping Centres and a major US shareholder has escalated" src="http://londonglossy.com/wp-content/uploads/2010/12/min-capital-rift-over-mall-deal-deepens.jpg" alt="The row between Lakeside owner Capital Shopping Centres and a major US shareholder has escalated"/></a></p>
<p>The row between Lakeside owner Capital Shopping Centres and a major US shareholder has escalated over a £1.6 billion bid for one of Britain&#8217;s biggest malls.</p>
<p>US group Simon Property accused Capital of overpaying for the Trafford Centre in Manchester and said the deal would destroy the value of the company.</p>
<p>It emerged last month that Simon Property, which owns a 5% stake in Capital, wanted the Trafford acquisition to be put on hold while it looked at a possible takeover bid for Capital.</p>
<p>Capital has so far given its pursuer short-shrift in the absence of any firm offer and said it would proceed with the Trafford acquisition.</p>
<p>Simon said it would drop its takeover plans unless it was allowed to go through Capital&#8217;s books and confirmed it would vote against the Trafford move.</p>
<p>In an open letter, Simon chief executive and chairman David Simon said it was &#8220;disturbed and disappointed&#8221; by Capital&#8217;s bid for the Trafford Centre.</p>
<p>He added his firm had not received information requested from Capital, which is required for it to prepare its approach for the FTSE 100 firm.</p>
<p>Capital shares fell 4% following publication of the letter.</p>
<p>Capital responded by saying it was &#8220;not appropriate&#8221; to provide Simon Property with due diligence information in the absence of an indicative offer and reiterated plans to plough on with its Trafford deal.</p>
<p>The acquisition would cement Capital&#8217;s position as the leading UK shopping centre group with 14 centres, including four of the country&#8217;s top six out-of-town destinations.</p>
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