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SPG - Taubman Centers: Bad News If It Loses In Court
Simon Property Group Inc.
Taubman Centers' comparable NOI plunged by about 25% in the second quarter.
Like other mall owners, Taubman faces a growing wave of in-line tenant bankruptcies, along with anchor vacancies due to department store closures.
Three of Taubman's five unencumbered properties are experiencing significant headwinds.
While Taubman may win its upcoming trial with Simon Property Group, forcing the latter to buy it for $52.50/share, its legal case is far from being bulletproof.