Never say never: Brookfield, Forest City restart acquisition talks

REIT could sell for $25 per share: report

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 

Related Articles

Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions

Mayor Bill de Blasio and Westchester Square Hospital in the Bronx (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images; Google Maps)

New York City seeking sites for coronavirus triage centers