As bankruptcies and store closures pile up among brick-and-mortar retailers, investors are increasingly concerned about mall operators, according to a Bloomberg News commentary. For the most part, those worries have centered on the landlords who operate dying malls. But as shoppers increasingly opt to stay home and embrace the convenience of online shopping, concern has extended to Simon Property Group Inc. and Taubman Centers Inc., high-end landlords that have each seen their shares hammered over the past year. Now, the rivals are poised to fight the retail woes together. On Monday, Simon announced it’s buying Taubman for $3.6 billion — a bid to expand by gobbling up a competitor. With malls under pressure to give customers a reason to leave their couches, they’re being forced to make costly improvements to the properties and add attractions like better dining options. Taubman, which owns about two dozen malls, needs to reinvest in its U.S. properties and Simon could help provide the capital required to do so, according to Lindsay Dutch, an analyst at Bloomberg Intelligence.
