NEW YORK ( TheStreet) -- Simon Property ( SPG) dropped its bid of 2.9 billon pounds ($4.5 billion) for U.K. mall owner Capital Shopping Centres. Simon Property proposed to buy Capital Shopping Centres last month for 425 pence a share in cash. But Tuesday, Simon Property said Capital Shopping failed to provide certain due diligence information. "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 with Simon," Simon Property said in a statement to the London Stock Exchange. "Simon therefore has no alternative other than to announce that it does not intend to make an offer for the entire share capital of CSC." Simon currently owns a 5.1% stake in Capital Shopping. It said it still opposes Capital Shopping's deal to buy Trafford Centre mall, a transaction it has opposed in the past. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.