Simon Property Group’s Acquisition of Prime Outlets

A Compass Lexecon team led by Mary Coleman assisted Simon Property Group's outside counsel, headed by Barry Nigro from Fried Frank, LLP, in obtaining FTC approval for Simon Property Group's acquisition of Prime Outlets. With the assistance of Jonathan Bowater and Loren Poulsen, Mary Coleman made several presentations to the Federal Trade Commission outlining the economic evidence showing that the acquisition would not likely have any anticompetitive effects in specific geographic markets where both companies currently owned outlet properties. The transaction was approved by the FTC subject to an agreed upon divestiture of either its Cincinnati Premium Outlet center located in Monroe, Ohio or its Prime Outlets-Jeffersonville outlet center in Jeffersonville, Ohio. In addition, Simon agreed to other conditions related to outlet malls serving the Chicago and Orlando markets.