The shareholders of Taubman Centers have approved the company’s merger with real estate company Simon Property Group. The deal is likely to close either this week or in early 2021. Notably, in November, Simon Property had offered $43 a share to acquire Taubman Centers (TCO). However, the deal price was cut lower from its previous offer of $52.2 per share proposed back in February. TCO have gained 27% over the past 3 months. Per the revised deal agreement, Simon Property (SPG) will buy an 80% stake in the Taubman Realty Group Limited Partnership (TRG).
https://www.tipranks.com/news/taubman-gets-shareholders-nod-for-simon-property-merger