CSC approves Trafford deal

Shareholders in Capital Shopping Centres yesterday gave the green light to the firm’s £1.6bn purchase of the Trafford Centre, bringing to a close months of tussling with predatory investor Simon Property. Simon said in a statement yesterday that it would “closely track the progress” of the CSC board, after giving up on its £3bn takeover bid earlier this month. The Trafford takeover will give previous owner Peel Holdings a one-quarter stake in CSC, though it amended its terms after Simon criticised the deal in November.