Taubman Centers surges as rival Simon buys for $3.6 billion - Business Insider

has proclaimed the death of the American mall. Taubman's stock had previously been trading down 29.49% versus a year go. Its funds from operations, a measure of cash flow, came in below analyst expectations for the last quarter, the company also announced in an earnings statement Thursday.

Taubman Centers operates 26 shopping centers through its Taubman Reality Group unit. The firm is an S&P MidCap 400 real estate investment trust. The deal will allow Taubman Realty Group to invest in new shopping experiences and creates new job opportunities in the regions it operates in, said CEO of Simon, David Simon, in a Monday statement. Simon Property Group is an S&P 100 company that operates entertainment, shopping, and eating businesses.

Simon will pay $52.50 per share of Taubman Centers, all in cash, and will also have an 80% ownership stake in Taubman Realty Group Limited Partnership. Robert Taubman, Taubman's current CEO, will continue to run TRG alongside Simon.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

I bought $1 million of life insurance in case I have heart trouble - Business InsiderNo one, other than insurance agents, gets excited about life insurance. Well, not exactly. In 2012, I'll admit I was excited to get life insurance. I got one at 40 Age ain’t nothing but a number & the heart will remain forever young with love & determination behind you
Source: BusinessInsider - 🏆 729. / 51 Read more »

15 cheap stock picks to buy for big buybacks, dividends: Goldman Sachs - Business InsiderGOLDMAN SACHS: These 15 stocks offer cash returns at more than double the market average — and they're available at a discount You need to label the tweets “prime” or not Not sure about stocks but this show kicked butt. THEY SHOULD BANCRUPTED THEY ARE LIERS!!!!!!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Netskope raises $340 million in funding, bring valuation to $3 billion - Business InsiderThe CEO of security startup Netskope says that a driving force behind its monster $340 million funding round was the chance to work with Sequoia Capital
Source: BusinessInsider - 🏆 729. / 51 Read more »

Guava Juice: Roi Fabito on his YouTube channel, merch, business - Business InsiderRoi Fabito started his YouTube career out of boredom in 2006. Today he has grown the Guava Juice empire into a lucrative business.
Source: BusinessInsider - 🏆 729. / 51 Read more »