Hahn, Avital
May 2003
Investment Dealers' Digest;5/5/2003, Vol. 69 Issue 18, p42
Trade Publication
Simon Property Group Inc. has requested permission to file a third amended complaint in a federal court in Michigan to challenge the latest actions by Taubman Centers Inc.SPG and Westfield Properties, which together are battling to take over rival Taubman, contend that the Taubman board is breaching its fiduciary duties to shareholders by using its share repurchase program to increase the relative voting power of the Taubman family going into a contested election for board members.The Pennsylvania Real Estate Investment Trust, which focuses on retail shopping malls in the eastern U.S., has acquired four shopping malls totaling 3.6 million square feet for 469 million dollars from Rouse, a large developer and operator of commercial properties.IndyMac Bancorp, the holding company for IndyMac Bank, reported earnings of 36.9 million dollars, representing a record 0.66 dollar per share for the first quarter of 2003.


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