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Land and Buildings Investment urges Taubman Centers to explore options
October 19, 2016 / 12:45 PM / a year ago

Land and Buildings Investment urges Taubman Centers to explore options

Oct 19 (Reuters) - Activist hedge fund Land and Buildings Investment Management LLC called on shopping mall operator Taubman Centers Inc urging it to explore options, including a sale or a spin-off.

The hedge fund, run by former Citigroup REIT analyst Jonathan Litt, in a letter to the company’s board, touched upon the company’s “dramatic discount” to NAV, its “inferior operating performance” and management’s “disastrous capital allocation decisions”. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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