Never say never: Brookfield, Forest City restart acquisition talks

REIT could sell for $25 per share: report

TRD New York /
Jun.June 18, 2018 06:20 PM

“The Suitor” by Beda Francesco, feat. Brookfield’s Bruce Flatt

Brookfield Asset Management’s acquisition of Forest City Realty Trust could happen after all.

The real estate investment trust is talking to Brookfield about a sale for $25 to $25.50 per share, Bloomberg reported. A mere three months ago, Forest City rejected a takeover offer of $25 per share from Brookfield and declared it would remain an independent company.

“The board concluded that stockholder value would be better enhanced on a standalone basis and that the conditional requirements specified by the counter party in the March 13 proposal created more uncertainty around a potential transaction than the board was prepared to accept,” Forest City’s James Ratner and Scott Cowen said in a statement at the time.

Forest City lost its former New York head MaryAnne Gilmartin in January and has gradually shifted its strategy away from ground-up development. [Bloomberg]Konrad Putzier 

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