Simon Property Group this morning abandoned its bid for Capital Shopping Centres (CSC), saying CSC did not provide the information it needed to proceed.

Simon, the world’s largest owner of shopping centers, made a conditional bid of 425p a share in cash on 15 December, valuing CSC at £2.9bn, but last week CSC said it was worth as much as 625p a share to a bidder.

“Despite numerous overtures from Simon and in full knowledge that Simon, given this due diligence precondition, is not able to announce a firm offer without it, the CSC board has refused to share any due diligence information,” Simon said in a statement today.

Simon, which holds a 5.1% stake in CSC, had been given until tomorrow by the Takeover Panel to make a firm bid for CSC or withdraw. It said it continued to oppose a CSC proposal to buy the Trafford Centre near Manchesters with its shares, which Simon argues will dilute shareholders, and said it reserved the right to sell some or all of its existing stake in CSC.