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Related plots to influence Ladder’s board after seeing $1.5B bid rejected

Asset management arm considers nominating new board members

Trump Tower and Stephen Ross
Trump Tower and Stephen Ross

Related Companies just won’t take no for an answer. After the development firm’s asset management arm saw a bid for Ladder Capital rejected, it is now moving on to Plan B and take over the mortgage real estate investment trust by other means.

Related is considering nominating new candidates to Ladder’s board in an attempt to get a deal approved, Bloomberg reported.

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Related Fund Management already owns 6.5 percent of Ladder’s shares and offered to buy the remainder for almost $1.5 billion. Ladder rejected the offer in January.

Ladder is best known for lending to President Trump’s businesses and holds a $100 million mortgage on Trump Tower. [Bloomberg] — Konrad Putzier

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