Taubman Centers' (TCO) shareholders will vote to back the company's three board nominees at the mall operator's shareholder meeting, sources told Reuters, fending off the changes activist investor Land and Buildings has been pushing.
Land and Buildings had sought two seats on the company's board.
The company's Class B shares gives the Taubman family a 30.2% voting interest, making Land and Buildings' activist push an uphill value.
Taubman shares were down more than 1% in early morning trading Thursday and have fallen more than 18% year to date.
Retail's downturn giving you the blues? Jim Cramer has a list of retailers that are currently oversold, giving investors a leg up one of the market's most volatile sectors.