Illustration: Rebecca Zisser/Axios

Simon Property Group canceled Wednesday its $3.6 billion deal for rival shopping mall operator Taubman Centers.

Why it matters: This is one of several mergers agreed to before the coronavirus pandemic that have been scrapped due to pandemic-related performance problems. The spurned targets have often fought back — with a possible precedent-setting trial to occur next month between private equity firm Advent International and enterprise software company Forescout Technologies.

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Bill Ackman's "mature unicorn" acquisition company could raise $6.5 billion

Photo illustration: Sarah Grillo/Axios. Photo: Sylvain Gaboury/Patrick McMullan via Getty Images

Pershing Square Tontine Holdings, a special purpose acquisition company formed by Bill Ackman to acquire "mature unicorns," filed for a $3 billion IPO.

Why it matters: $3 billion would be the most money ever raised by a SPAC. And it may ultimately raise nearly $6.5 billion, based on concurrent plans to raise between $1 billion and $3 billion from funds associated with Ackman's hedge funds, plus up to another $450 million if banks exercise their over-allotment options.

Small businesses face post-lockdown cash crunch

A seamstress works at a sewing machine in a tailoring shop in Palm Springs, Calif. Photo: Robert Alexander/Getty Images.

U.S. macroeconomic data is broadly improving but many small businesses are facing a perilous recovery as they attempt to stay afloat after coronavirus-driven lockdowns throughout the country. That's true even for the many that received government assistance.

By the numbers: A recent poll of 7,317 small business owners by Alignable finds that 43% of firms that received money through the Paycheck Protection Program (PPP) say they could be out of cash in a month or less.

Amazon's big new $2 billion climate VC fund

Amazon founder and CEO Jeff Bezos. Photo: Andrej Sokolow/picture alliance via Getty Images

Amazon is creating a $2 billion venture fund that will stake companies working on climate-friendly technologies in transportation, storage, food, power generation, waste and more, the tech giant said Tuesday.

Why it matters: The new fund will help Amazon and other companies meet the "climate pledge" that Amazon announced last year to reach net-zero emissions by 2040.