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Veris rebuffs Kushner’s latest, Fortress-backed takeover bid
In a recent filing with the U.S. Securities and Exchange Commission, the REIT qualified a $16-per-share offer from the parties as “grossly” undervaluing the company in the present, and denying shareholders expected, long-term value.
Kushner bites back in Veris response
In a letter penned by its chairman, Kushner Cos. doubled down on its position regarding its play for the Jersey City-based REIT, writing that the company's "leadership team has no clear long term plan to maximize the value of the portfolio, nor are they the right team to execute."
Veris rejects Kushner takeover bid
"The Board believes this proposal grossly undervalues the Company in its current form and denies Veris Residential shareholders the substantial value expected to be unlocked from the pending completion of the Company's strategic transformation," the board wrote in a Nov. 3 letter to Kushner Cos.' Charles Kushner.
