Taubman's board of directors plans to make up its mind on SimonProperty Group's tender offer during the next 10 business days,when they will give its opinion to shareholders.

Meanwhile, Simon Property Group has sued Taubman's board ofdirectors, which includes chairman, president and chief executiveofficer Robert S. and executive vice president William S. Taubman,along with former director A. Alfred Taubman. Simon Property Grouphas gone to federal court in Michigan to force the Taubman board toconsider its offer and prevent the Taubman family from blocking thesale. It also is filing paperwork with the Securities and ExchangeCommission for a shareholder vote.

Simon Property Group offered $17.50 per share for TaubmanCenters stock last month, which would still be a record price forits shares. The new $18 per share offer is 35% higher than theprice of Taubman Centers stock when Simon Property Group launchedits takeover attempt, the larger REIT notes. Taubman countered thenthat family holdings were large enough to block any takeoverattempt, which Simon Property Group now disputes in court.

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