NEW YORK — Real estate development firm Gordon Group has agreed to make an investment in Taubman Centers Inc., a move that could result in Taubman managing The Forum Shops at Caesars in Las Vegas, which is owned by its archrival, Simon Property Group.

Simon and Taubman are embroiled in a bitter battle in which Simon has made a $1.5 billion hostile takeover bid for Taubman, as reported.

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