However, counting the takeover attempt, the company is reporting a net lossof 40 cents a share for the six months ending June 2003, and 26 cents pershare for the second quarter 2003.
The company said the losses were because of allocations of income tominority interests, the takeover attempt, depreciation and gains ondispositions.
Simon had offered shareholders $20 per common share for Taubman stock as ofFriday. It was not clear at press time how many shares Indianapolis REIT wasable to acquire. Taubman is trying to block the sale with a controllingblock of shares.
Taubman's funds from operations did increase from last year, though not asmuch as expected. The company had to restate its earnings last year, inaccordance with National Association of Real Estate Investment Trusts(NAREIT) guidelines, because of charges relating to technology investments.
"These solid results reflect contributions from the successful opening ofThe Mall at Millenia (Orlando, FL) in October, 2002, as well as rents andrecoveries from our core portfolio," said Robert S. Taubman, chairman,president and CEO of Taubman Centers.
He said mall tenant sales and rents per sf were up for the secondquarter 2003.
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