TCO News and Press, Taubman Centers Inc. From 11/18/20

One of the first casualties in a financial crisis is mergers and acquisitions activity, especially transactions where the target company is being bought for cash. One acquisition from early February involving retail real estate investment trust (REIT) giant Simon Property Group (NYSE:...

After months of legal conflict between the two firms, Simon Property agreed to buy Taubman Centers' parent company. This is at a substantial discount to the deal agreed upon earlier this year. This move should be looked at as a positive for Simon, which had been prepared to overpa...

Simon Property Group (SPG) slips 2.5% in premarket trading after starting an offering of 17.5M shares of common stock that will help pay for its acquisition of 80% of Taubman (TCO).Expects to grant greenshoe option for up to an additional 2.625M shares.Intends to use proceeds to fun...

Paulson & Co portfolio value stands at $3.21B according to its latest 13F, and discloses updated portfolio positions.The fund added new positions in Lear (LEA), Hycroft Mining Holding (HYMC).Beefed up stakes in Endo International (ENDP) (~14.5M from ~9.63M), ...

In its recent 13F filing, Thomson Sandell's Sandell Asset Management reported total fund portfolio of $178.66M vs. $249.9M in its last quarterly filing.The fund initiated position in American Axle & Manufacturing Holdings (AXL); YTD, the stock has surged 42%.Fund exited Xperi Holding (XPE...

For the past five months, Simon Property Group (NYSE: SPG) and Taubman Centers (NYSE: TCO) have been embroiled in litigation, after Simon attempted to terminate its planned takeover of Taubman in June. The COVID-19 pandemic has crushed U.S. malls in 2020, giving Simon a ...

On Monday, Simon Property Group (NYSE: SPG) and peer Taubman Centers (NYSE: TCO) announced in a joint press release that they've amended the terms of their merger agreement. Under the new terms of the deal, Simon will essentially acquire Taubman, paying $43 per share for...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Largest trade deal ever Fifteen countries that make up nearly a third of the world's population and gross domestic product formed the world's biggest tradi...

Simon Property Group has announced a new deal with Taubman Center at $800 million less and a 7.2% cap rate. The company has significantly improved its gathering rate on revenues, and we expect that to continue. The acquisition is profitable for FFO and we expect that to drive long...

U.S. equity markets climbed to record-highs this past week on positive trial results for a COVID-19 vaccine, a potentially major breakthrough hailed as a "great day for science and humanity." Adding to its 7% post-election surge, the S&P 500 gained 2.3% this past week to...