Reevemark represents Simon Property Group, which has terminated its $3.6B deal to acquire Bloomfield, MI-based Taubman Group because of the alleged failure of the mall operator to take action to mitigate the impact of the COVID-19 pandemic.
SPG filed a suit in a Michigan court requesting a declaration that Taubman suffered a material adverse event and breached the merger agreement that was announced in February.
The Indianapolis-based company claims that COVID-19 disproportionately impacted Taubman because its enclosed malls are located in densely populated metro areas and are dependent on domestic and international tourism business.
Taubman believes that SPG's "purported termination" of the merger agreement is invalid and without merit and that it continues to be bound to the transaction in all respects.
Reevemark's Hugh Burns and Paul Caminiti represent SPG.