Word: tci
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...brief filed Friday, TCI said that “there is no factual, legal or equitable substance” in SPG’s claim...
...alleges that the 1998 TCI board of directors—which included Allison—improperly issued the Taubman family economically worthless but politically valuable Series B preferred stock during this reorganization. The result was that the family gained control of 30 percent of the TCI voting rights for a mere $38,000, according to Hugh Burns of Citigate Sard Verbinnen, SPG’s public relations firm...
...simply part of SPG’s relentless public relations campaign feeding trumped-up charges of illegality to credulous journalists to pressure Taubman Centers’ directors into accepting a tender offer that they believe, in their good faith judgment, is inadequately priced and opportunistic,” TCI wrote in its brief...
...been attempting to gain control of TCI since November, when they made their first public offer of $17.50 a share. The company increased its offer to $18 in December...
...January, SPG partnered with Westfield America, Inc., to make a tender offer of $20 a share. Each time, according to the TCI brief, SPG claimed to be making an offer equivalent to the “full value” of the shares...