Wednesday, November 15, 2017

Taubman Centers Climbs After Elliott Is Said to Build Stake

Taubman-outlet Shares of Taubman Centers Inc. climbed as much as 6.7 percent Tuesday after Elliott Management Corp. amassed a position in the mall owner, according to people familiar with the matter.

Paul Singer’s Elliott plans to push for changes at the company including a potential sale, said the people, who asked not to be identified because the matter isn’t public. Elliott has held discussions with the company and is urging it to explore being taken private, among other options, said the people. The New York-based hedge fund has built a sizable stake in Taubman Centers but remains below the 5 percent threshold that would require it to disclose to regulators, one of the people said.. . . more

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