Simon Property Group Inc., Indianapolis has increased a public offering of common stock to 20 million shares and priced it at $50.00 per share. Merrill Lynch & Co., J.P. Morgan Securities Inc. and Morgan Stanley are the joint book-running managers of the offering. Simon has granted the underwriters a 30-day option to purchase 3 million additional shares of common stock to cover overallotments, if any. Simon will contribute the net proceeds of the offering to its majority-owned operating partnership subsidiary, Simon Property Group LP, which will use the amount contributed for general corporate purposes.
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