Bloomfield Hills, Michigan

Taubman Centers Provides Business Update

Tuesday, June 30, 2020 - 11:11pm

Taubman Centers, Inc. (NYSE: TCO) today announced that 100 percent of its operating properties in the U.S. and Asia, have reopened.

Key Points: 
  • Taubman Centers, Inc. (NYSE: TCO) today announced that 100 percent of its operating properties in the U.S. and Asia, have reopened.
  • We were encouraged by the quick rebound of our centers in Asia, and are seeing very positive progress in the U.S., said Mr. Taubman.
  • Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.

Taubman Centers Shareholders Approve Merger with Simon Property Group

Thursday, June 25, 2020 - 4:44pm

Taubman Centers, Inc. (NYSE: TCO) (the Company) announced that, at a special meeting of shareholders, its shareholders today approved and adopted the previously announced merger agreement (the Merger Agreement), dated as of February 9, 2020, among the Company, The Taubman Realty Group Limited Partnership (together with the Company, Taubman), Simon Property Group, Inc. (NYSE: SPG) (Simon) and certain other parties, and the transactions contemplated by the Merger Agreement (the Transactions).

Key Points: 
  • Taubman Centers, Inc. (NYSE: TCO) (the Company) announced that, at a special meeting of shareholders, its shareholders today approved and adopted the previously announced merger agreement (the Merger Agreement), dated as of February 9, 2020, among the Company, The Taubman Realty Group Limited Partnership (together with the Company, Taubman), Simon Property Group, Inc. (NYSE: SPG) (Simon) and certain other parties, and the transactions contemplated by the Merger Agreement (the Transactions).
  • Shares voting in favor also included approximately 78.3% of the outstanding shares entitled to vote held by shareholders other than the members of the Taubman family.
  • Taubman continues to believe that Simons purported termination of the Merger Agreement is invalid and without merit, and that Simon continues to be bound to the Merger Agreement and to consummate the Transactions.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.

Taubman Centers Confirms Receipt of Notice from Simon Property Group Purporting to Terminate Merger Agreement

Wednesday, June 10, 2020 - 6:44pm

Taubman Centers, Inc. (NYSE: TCO) (Taubman) confirmed that Simon Property Group, Inc. (Simon) has today delivered a notice purporting to terminate the previously announced Agreement and Plan of Merger among Simon, Taubman, The Taubman Realty Group Limited Partnership (TRG) and other parties.

Key Points: 
  • Taubman Centers, Inc. (NYSE: TCO) (Taubman) confirmed that Simon Property Group, Inc. (Simon) has today delivered a notice purporting to terminate the previously announced Agreement and Plan of Merger among Simon, Taubman, The Taubman Realty Group Limited Partnership (TRG) and other parties.
  • Taubman believes that Simons purported termination of the Merger Agreement is invalid and without merit, and that Simon continues to be bound to the transaction in all respects.
  • Taubman intends to hold Simon to its obligations under the Merger Agreement and the agreed transaction, and to vigorously contest Simons purported termination and legal claims.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.

Simon Property Group Terminates Taubman Agreement

Wednesday, June 10, 2020 - 2:26pm

INDIANAPOLIS, June 10, 2020 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) ("Simon") today announced that it has exercised its contractual rights to terminate its February 9, 2020 merger agreement (the "Merger Agreement") with Taubman Centers, Inc. (NYSE: TCO).

Key Points: 
  • INDIANAPOLIS, June 10, 2020 /PRNewswire/ -- Simon Property Group, Inc. (NYSE: SPG) ("Simon") today announced that it has exercised its contractual rights to terminate its February 9, 2020 merger agreement (the "Merger Agreement") with Taubman Centers, Inc. (NYSE: TCO).
  • Simon also filed an action today in the Circuit Court for the 6th Judicial Circuit of Oakland County, Michigan against Taubman Centers, Inc. and The Taubman Realty Group Limited Partnership (collectively, "Taubman") requesting a declaration that Taubman has suffered a Material Adverse Event ("MAE") under the Merger Agreement and has breached the covenants in the Merger Agreement governing the operation of Taubman's business.
  • The Merger Agreement specifically gave Simon the right to terminate the transaction in the event that a pandemic disproportionately hurt Taubman.
  • Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG).

Taubman Centers Declares Quarterly Preferred Dividends

Friday, June 5, 2020 - 2:00pm

The Board of Directors (the Board) of Taubman Centers, Inc. (the Company) (NYSE: TCO) today declared quarterly dividends of $0.40625 on its 6.5% Series J Cumulative Preferred Shares (NYSE: TCO PR J) and $0.390625 on its 6.25% Series K Cumulative Preferred Shares (NYSE: TCO PR K).

Key Points: 
  • The Board of Directors (the Board) of Taubman Centers, Inc. (the Company) (NYSE: TCO) today declared quarterly dividends of $0.40625 on its 6.5% Series J Cumulative Preferred Shares (NYSE: TCO PR J) and $0.390625 on its 6.25% Series K Cumulative Preferred Shares (NYSE: TCO PR K).
  • Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.
  • For ease of use, references in this press release to Taubman Centers,, we, us, our, company, Taubman or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities.

Taubman Schedules First Quarter Earnings Release

Monday, May 4, 2020 - 10:09pm

Taubman Centers, Inc. (NYSE: TCO) will announce its first quarter 2020 earnings after the market closes on May 5, 2020.

Key Points: 
  • Taubman Centers, Inc. (NYSE: TCO) will announce its first quarter 2020 earnings after the market closes on May 5, 2020.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.
  • For ease of use, references in this press release to Taubman Centers, we, us, our, company, Taubman or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities.
  • In connection with the proposed transaction, Taubman intends to file relevant materials with the Securities and Exchange Commission (the SEC).

The Acme Group Pivots Business Model To Assist With COVID-19 Pandemic Shortages

Thursday, April 23, 2020 - 1:07pm

The Acme Group provided over 3 million masks for area healthcare workers thus far.

Key Points: 
  • The Acme Group provided over 3 million masks for area healthcare workers thus far.
  • Founded in 1917, The Acme Group has long been a leading source of industrial textiles for American manufacturers.
  • The company has adapted to the growing industry and expanded its business model to reach the furniture, aviation, and marine markets.
  • The Acme Group serves as the holding company of its three subsidiaries, Acme Mills, Fairway Products, Great Lakes Filters.

Penske Automotive Group To Host First Quarter Results Conference Call

Wednesday, April 22, 2020 - 11:58am

The call will follow the release that morning of first quarter 2020 earnings for Penske Automotive Group and will be simultaneously broadcast over the Internet.

Key Points: 

Taubman Centers, Inc. to Temporarily Close Shopping Centers in Response to COVID-19

Thursday, March 19, 2020 - 6:00pm

In Asia, the company operates three shopping centers - CityOn.Xian (Xian, China) and CityOn.Zhengzhou (Zhengzhou, Henan, China) in China and Starfield Hanam (Hanam, South Korea).

Key Points: 
  • In Asia, the company operates three shopping centers - CityOn.Xian (Xian, China) and CityOn.Zhengzhou (Zhengzhou, Henan, China) in China and Starfield Hanam (Hanam, South Korea).
  • Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 26 regional, super-regional and outlet shopping centers in the U.S. and Asia.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.
  • For ease of use, references in this press release to Taubman Centers,, we, us, our, company, Taubman or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities.

Taubman Centers Declares Quarterly Common Dividend of $0.675 Per Share

Thursday, March 5, 2020 - 12:30pm

The Board of Directors of Taubman Centers, Inc. (NYSE: TCO) today declared a regular quarterly dividend of $0.675 per share of common stock.

Key Points: 
  • The Board of Directors of Taubman Centers, Inc. (NYSE: TCO) today declared a regular quarterly dividend of $0.675 per share of common stock.
  • The common dividend is payable March 31, 2020 to shareholders of record on March 16, 2020.
  • Founded in 1950, Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia, founded in 2005, is headquartered in Hong Kong.
  • For ease of use, references in this press release to Taubman Centers,, we, us, our, company, Taubman or an operating platform mean Taubman Centers, Inc. and/or one or more of a number of separate, affiliated entities.