Taubman Centers Announces Pricing of Public Offering of 1.75M Shares at $56.50

Taubman Centers, Inc. TCO today announced that the public offering price for the 1,750,000 common shares previously sold to Goldman, Sachs & Co., the sole underwriter of the offering, is $56.50 per share. The underwriter has also been granted a 30-day option to purchase up to 262,500 additional common shares. Subject to customary conditions, the offering is expected to close on June 17, 2011. The Company intends to use the net proceeds from the sale to reduce outstanding borrowings under its $615 million revolving credit facilities.