Shareholder to vote against SL Green deal

A major shareholder of Reckson Associates Realty says it will vote against the proposed acquisition by rival real estate investment trust SL Green Realty. Investment firm Arnhold and S. Bleichroeder Advisers says it’s concerned that Reckson directors didn’t maximize shareholder value. The shareholder vote is scheduled for Nov. 22. more [WSJ]
Some are also questioning Reckson CEO Scott Rechler’s role in the pending sale. more [WSJ]