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Article: Simon Property Group Commences $18.00 Per Share Cash Tender Offer for Taubman Centers, Inc. Files Suit To Invalidate Taubman Family's Improperly Obtained Voting Control.
- Article from:
- PR Newswire
- Article date:
- December 5, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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-- Files Preliminary Proxy Materials Under Michigan Control Share Act
INDIANAPOLIS, Dec. 5 /PRNewswire-FirstCall/ -- Simon Property Group, Inc. today announced that it has commenced a tender offer to acquire all of the outstanding shares of Taubman Centers, Inc. at a price of $18.00 per share net to the seller in cash. The tender offer and withdrawal rights will expire at 12:00 midnight, New York City time, on January 17, 2003, unless extended.
SPG had previously sent letters to TCO's Board of Directors offering to acquire the Company for $17.50 per share. The $18.00 per share price of the tender offer represents a premium of approximately 35% to ...