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TCO - Simon Property Group And Taubman Centers: Not All Relationships End Well
Taubman Centers Inc.
June 10th turned out to be a pretty bad day for shareholders of Taubman Centers (TCO). Investor enthusiasm in the company tanked after news broke that Simon Property Group (SPG) was electing to drop its planned acquisition of the firm. This move may seem like a win for investors who thought the buyout of Taubman, announced in February of this year, was at too low a price for the firm, but for investors banking on the deal and the merger/arbitrage opportunity it offered, the pain ended up being significant. Truth