Taubman Schedules First Quarter Earnings Release
May 04 2020 - 5:09PM
Business Wire
Taubman Centers, Inc. (NYSE: TCO) will announce its first
quarter 2020 earnings after the market closes on May 5, 2020. The
company will not host a conference call this quarter.
About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment
Trust engaged in the ownership, management and/or leasing of 26
regional, super-regional and outlet shopping centers in the U.S.
and Asia. Taubman’s U.S.-owned properties are the most productive
in the publicly held U.S. regional mall industry. Founded in 1950,
Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia,
founded in 2005, is headquartered in Hong Kong.
www.taubman.com.
For ease of use, references in this press release to “Taubman
Centers”, “we”, “us”, “our”, “company,” “Taubman” or an operating
platform mean Taubman Centers, Inc. and/or one or more of a number
of separate, affiliated entities. Business is actually conducted by
an affiliated entity rather than Taubman Centers, Inc. itself or
the named operating platform.
This press release contains certain “forward-looking” statements
as that term is defined by Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Statements that are predictive in nature, that
depend on or relate to future events or conditions, or that include
words such as “believes”, “anticipates”, “expects”, “may”, “will”,
“would,” “should”, “estimates”, “could”, “intends”, “plans” or
other similar expressions are forward-looking statements.
Forward-looking statements involve significant known and unknown
risks and uncertainties that may cause actual results in future
periods to differ materially from those projected or contemplated
in the forward-looking statements as a result of, but not limited
to, the following factors: the failure to receive, on a timely
basis or otherwise, the required approvals by Taubman’s
shareholders; the risk that a condition to closing of the
transaction may not be satisfied; Simon’s and Taubman’s ability to
consummate the transaction; the possibility that the anticipated
benefits from the transaction will not be fully realized; the
ability of Taubman to retain key personnel and maintain
relationships with business partners pending the consummation of
the transaction; the COVID-19 pandemic and related challenges,
risks and uncertainties which have had, and may continue to have,
direct and indirect adverse impacts on the general economy, retail
environment, tenants, customers, and employees, as well as
occupancy, sales, rent collection and center development
activities; and the impact of legislative, regulatory and
competitive changes and other risk factors relating to the
industries in which Simon and Taubman operate, as detailed from
time to time in each of Simon’s and Taubman’s reports filed with
the SEC. There can be no assurance that the transaction will in
fact be consummated.
Additional information about these factors and about the
material factors or assumptions underlying such forward-looking
statements may be found under Item 1.A in Taubman’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2019, as
amended, and subsequent reports filed with the Securities and
Exchange Commission. Taubman cautions that the foregoing list of
important factors that may affect future results is not exhaustive.
When relying on forward-looking statements to make decisions with
respect to the proposed transaction, shareholders and others should
carefully consider the foregoing factors and other uncertainties
and potential events. All subsequent written and oral
forward-looking statements concerning the proposed transaction or
other matters attributable to Taubman or any other person acting on
their behalf are expressly qualified in their entirety by the
cautionary statements referenced above. The forward-looking
statements contained herein speak only as of the date of this
communication. Taubman does not undertake any obligation to update
or revise any forward-looking statements for any reason, even if
new information becomes available or other events occur in the
future, except as may be required by law.
Additional Information and Where to Find It
This communication is being made in respect of the proposed
transaction involving Taubman and Simon. In connection with the
proposed transaction, Taubman intends to file relevant materials
with the Securities and Exchange Commission (the “SEC”). On April
28, 2020, Taubman filed its preliminary proxy statement on Schedule
14A. Promptly after filing its definitive proxy statement with the
SEC, Taubman will mail the definitive proxy statement and a proxy
card to each shareholder of Taubman entitled to vote at the special
meeting relating to the proposed transaction. This communication is
not a substitute for the proxy statement or any other document that
Taubman may file with the SEC or send to its shareholders in
connection with the proposed transaction. BEFORE MAKING ANY VOTING
DECISION, SHAREHOLDERS OF TAUBMAN ARE URGED TO READ THESE MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT
TAUBMAN WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TAUBMAN AND THE
PROPOSED TRANSACTION. The definitive proxy statement, the
preliminary proxy statement and other relevant materials in
connection with the proposed transaction (when they become
available), and any other documents filed by TAUBMAN with the SEC,
may be obtained free of charge at the SEC’s website
(http://www.sec.gov) or at Taubman’s website (www.taubman.com).
Participants in the Solicitation
Taubman and certain of its directors, executive officers and
employees may be considered participants in the solicitation of
proxies in connection with the proposed transaction. Information
regarding the persons who may, under the rules of the SEC, be
deemed participants in the solicitation of the shareholders of
Taubman in connection with the transaction, including a description
of their respective direct or indirect interests, by security
holdings or otherwise, is included in the Proxy Statement described
above filed with the SEC. Additional information regarding
Taubman’s directors and executive officers is also included in the
Taubman’s proxy statement on Schedule 14A for its 2019 Annual
Meeting of Shareholders, which was filed with the SEC on April 30,
2019, or its Annual Report on Form 10-K for the year ended December
31, 2018, which was filed with the SEC on February 28, 2019. These
documents are available free of charge as described above.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200504005756/en/
Erik Wright, Taubman, Manager, Investor Relations, 248-258-7390
ewright@taubman.com
Maria Mainville, Taubman, Director, Strategic Communications,
248-258-7469 mmainville@taubman.com
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