Simon, Westfield Nominate 4 for Taubman Board

Simon Property Group and Westfield America have nominated four individuals for election to the Taubman Centers board at Taubman's 2003 annual meeting.The nominees are: Benjamin Civiletti, a former U.S. attorney general and chairman of a law firm, Venable LLP; Douglas Crocker II, president and chief executive officer of Equity Residential; Roberta Karmel, a Brooklyn Law School professor and a former commissioner of the Securities and Exchange Commission; and Michael Koeneke, a retired chairman of Merrill Lynch's mergers-and-acquisitions group. Simon and Westfield's $20-per-share offer for Taubman shares expires March 28 unless it is extended. Responding to the nominations, Taubman said, "Simon and Westfield are subjecting the company to a proxy contest to elect their nominees solely to advance their own agenda. We believe that a proxy fight will only serve to disrupt all three companies, including Taubman Centers." Taubman also made clear its position that Taubman is not for sale. The real estate investment trusts are awaiting a ruling from a Michigan judge about the validity of Taubman's blocking position that will determine the future course of the takeover attempt.