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Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm headquartered at the Empire State Building in New York City, is investigating:
BALA CYNWYD, PA / ACCESSWIRE / February 13, 2020 / Brodsky & Smith, LLC reminds investors of investigations it is conducting regarding the following companies for possible breaches of fiduciary duty and ...
NEW YORK, NY / ACCESSWIRE / February 12, 2020 / Halper Sadeh LLP, a global investor rights law firm, continues to investigate whether the following proposed mergers are fair to shareholders. Halper Sadeh ...
Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may ultimately seek increased consideration, additional disclosures, or other relief and benefits on behalf of the shareholders of these companies:
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Taubman Centers, Inc. ("Taubman" or the "Company") (NASDAQ: TCO) in connection with the proposed acquisition of the Company by rival shopping mall firm, Simon Property Group (NYSE: SPG). Under the terms of the acquisition agreement, TCO shareholders will receive $52.50 per share in cash. The deal is scheduled to close in mid-2020.
NEW YORK, NY / ACCESSWIRE / February 11, 2020 / The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Taubman Centers, Inc. (" Taubman " ...
Taubman Centers (TCO) puts up better-than expected performance in Q4. Meanwhile, shares of the company rally on Simon Property's buyout deal valued at $3.6 billion to acquire Taubman.
Simon Property Group Inc. said Monday it has agreed to acquire mall real-estate investment trust Taubman Centers Inc. in an all-cash deal valued at about $3.6 billion, sending Taubman stock up 53%.
SHAREHOLDER INVESTIGATION: Halper Sadeh LLP Investigates Whether The Sale Of These Companies Is Fair To Shareholders - FSCT , FG , TCO NEW YORK, NY / ACCESSWIRE / February 11, 2020 / Halper Sadeh LLP, ...
BALA CYNWYD, PA / ACCESSWIRE / February 10, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Taubman Centers, Inc. ("Taubman" ...
Some of Florida's most luxurious malls — including Tampa's International Plaza — will change hands in a $3.6 billion deal. Mall giant Simon Property Group (NYSE: SPG) said Monday that it will acquire Michigan-based Taubman Centers (NYSE: TCO). Taubman owns International Plaza in Tampa, Orlando's Mall at Millenia and the Mall at University Town Center in Sarasota.
A real estate investment trust-related exchange traded fund led the charge on Monday after Simon Property Group (NYSE: SPG) revealed plans to take a majority stake in rival mall owner Taubman Centers (NYSE: ...
The S&P 500 and the Nasdaq closed at record highs on Monday as Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was protracted by the deadly coronavirus outbreak.
NEW YORK, NY / ACCESSWIRE / February 10, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Board of Directors of Taubman Centers, Inc. ("Taubman " or "the ...
Wall Street gained ground and the Nasdaq reached a new record on Monday as Chinese workers and factories slowly returned to business following a Lunar New Year holiday that was extended due to the deadly coronavirus outbreak. All three major U.S. stock averages were higher, led by stalwarts Amazon.com, Microsoft Corp and Alphabet Inc.
Mall giant Simon Property Group said it would buy an 80% interest in upscale mall landlord Taubman Centers for $3.6 billion in cash, or $52.50 per share. But mall REIT Macerich also saw its stock jump on news of the deal.
(Bloomberg Opinion) -- In the retail apocalypse, only the strongest can survive. It’s why the Taubman family, among the biggest mall landlords in the U.S., is throwing in the towel after 70 years and ceding control to its larger rival, Simon Property Group Inc. The merger had long been seen as an inevitability, if a bitter reality for the Taubmans, who watched their company’s stock recently descend to a 2009 recession low. Mall operators are looking for ways to strengthen their portfolios, and these two in particular share similarities.Both run higher-end shopping destinations, such as Taubman Centers Inc.’s The Mall at Short Hills in New Jersey and The Gardens Mall outside Palm Beach, Florida, as well as Simon’s Woodbury Common Premium Outlets in Central Valley, New York. Still, neither company has been shielded from the pain of retail bankruptcies and shuttered storefronts. When Forever 21 filed for bankruptcy last fall, it was Taubman’s biggest tenant.(1) The timing of the family’s decision to sell reinforces the downcast mood in brick-and-mortar retail.After on-and-off talks between the two longstanding mall dynasties — like Taubman, Simon is led by the son of its own founder — the deal finally came together on Monday. Simon agreed to acquire Taubman for $3.6 billion in cash, or $52.50 a share, 70% higher than the stock’s average closing price for the last 20 trading sessions. The substantial premium shows just how eager Simon was to do the deal and what it took to get Taubman on board. The family will retain a 20% interest in Taubman Realty Group LP, the entity that holds its real-estate interests. For Simon, adding Taubman’s properties may help offset the sour outlook it gave investors during a recent earnings announcement. It had projected that funds from operations — a key cash-flow metric for real estate investment trusts (REITs) — will be $12.25 to $12.40 per diluted share in 2020, which was below some analysts’ expectations and signaled relatively weak growth for the year. Simon’s stock has rebounded 6% since Bloomberg News broke news of its negotiations with Taubman last week. It's a harsh retail environment, and while U.S. malls aren’t yet being demolished on a grand scale, less than half of them may ultimately survive, according to Lindsay Dutch, an analyst for Bloomberg Intelligence. On the bright side, those left standing could get even stronger as tenants seek out the best remaining shopping locations, Dutch wrote in a Dec. 11 report.Joining forces may ensure Simon and Taubman are in the latter camp. But selling now, with the stock in the dumps rather than on its way to a recovery, means the Taubmans didn’t see better days ahead. (1) Simon also happens to be part of a group trying to buy the fast-fashion retail chain.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
WILMINGTON, DE / ACCESSWIRE / February 10, 2020 / Rigrodsky & Long, P.A. announces that it is investigating Taubman Centers, Inc. ("Taubman") (NYSE: TCO ) regarding possible breaches of fiduciary ...
NEW YORK, Feb. 10, 2020 -- Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of Taubman Centers, Inc. (NYSE: TCO) to Simon Property Group,.
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Simon Property Group Inc. (NYSE: SPG) will indeed acquire Taubman Centers Inc. in a deal foreshadowed by reports in early February. As the biggest mall owner in the U.S., Simon plans to fund the $3.6 billion acquisition of fellow mall-owner Taubman (NYSE: TCO) with “existing liquidity,” according to a release announcing the deal. Simon owns Fashion Centre at Pentagon City, Clarksburg Premium Outlets, Leesburg Premium Outlets and Potomac Mills.
Rowley Law PLLC is investigating potential securities law violations by Taubman Centers, Inc. (NYSE: TCO) and its board of directors concerning the proposed acquisition of the company by Simon Property Group, Inc. (NYSE: SPG). Stockholders will receive $52.50 for each share of Taubman Centers stock that they hold. The transaction is valued at approximately $3.6 billion and is expected to close in mid-2020.
U.S. stocks ticked higher on Monday, as people returned to work in China after an extended new year holiday triggered by the coronavirus outbreak but sentiment remained fragile. Electric carmaker Tesla Inc jumped 6.3% as its Shanghai factory returned to service. On the other hand, Apple Inc slipped 0.6%, the biggest drag on the three main indexes, as analysts predicted China's smartphone sales may plunge by as much as 50% in the first quarter due to store closures and production suspensions following the outbreak.