Taubman

Taubman Centers Declares Quarterly Preferred Dividends

Thursday, September 3, 2020 - 2:25pm

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 Second Quarter Earnings Release

Thursday, August 6, 2020 - 6:42pm

Taubman Centers, Inc. (NYSE: TCO) will announce its second quarter 2020 earnings after the market closes on August 10, 2020.

Key Points: 
  • Taubman Centers, Inc. (NYSE: TCO) will announce its second quarter 2020 earnings after the market closes on August 10, 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.
  • Business is actually conducted by an affiliated entity rather than Taubman Centers, Inc. itself or the named operating platform.

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 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 CENTERS ALERT: Bragar Eagel & Squire, P.C. Reminds Investors of its Investigation of the Sale of TCO and Encourages Stockholders to Contact the Firm

Wednesday, May 6, 2020 - 2:15am

On February 10, 2020, Taubman announced that it had signed an agreement to merge with Simon Property Group.

Key Points: 
  • On February 10, 2020, Taubman announced that it had signed an agreement to merge with Simon Property Group.
  • Pursuant to the merger agreement, Taubman stockholders will receive $52.50 in cash for each share of Taubman common stock owned.
  • Bragar Eagel & Squire is concerned that Taubmans board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price.
  • Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Taubman stockholders.

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).

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 INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Taubman Centers, Inc. - TCO

Wednesday, March 18, 2020 - 6:03pm

and the law firm of Kahn Swick & Foti, LLC (KSF) are investigating the proposed sale of Taubman Centers, Inc. (NYSE: TCO) to Simon Property Group, Inc. (NYSE: SPG).

Key Points: 
  • and the law firm of Kahn Swick & Foti, LLC (KSF) are investigating the proposed sale of Taubman Centers, Inc. (NYSE: TCO) to Simon Property Group, Inc. (NYSE: SPG).
  • Under the terms of the proposed transaction, shareholders of Taubman will receive only $52.50 in cash for each share of Taubman that they own.
  • KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
  • To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com .