United States

Paul Singer takes a stake in mall giant Taubman Centers: report

The owner of the posh Mall at Short Hills in New Jersey reportedly has a new activist investor nipping at its heels. Paul Singer’s Elliott Management has built up a stake in Taubman Centers — which also owns the Beverly Center in Los Angeles, as well as other luxury shopping centers in the country, according to a Bloomberg report. The $34 billion activist hedge fund is pushing the company, which is largely controlled by the Michigan-based Taubman family, to consider a sale, according to the report. The size of Elliott’s stake in the $4.8 billion company was not immediately clear. Reps from Elliott did not immediately respond to requests to comment. Taubman Centers declined to comment. Nevertheless, shares of the mall-operator c ...