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