Veris Residential (VRE) Confirms Receipt of Unsolicited Proposals from Kushner Companies

  • October 21, 2022

POTENTIAL DEAL DETAILS

StockVeris Residential, Inc.SymbolVRE
Date Announced10/21/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person Kushner Companies

Veris Residential, Inc. (VRE), confirmed receipt of unsolicited proposals from Kushner Companies to externally manage the company or to acquire the Company for $16.00 per share.

Update(s):

November 03, 2022: Veris Residential unanimously rejects unsolicited proposals from Kushner Companies, believes this proposal grossly undervalues the company

November 22, 2022: Fortress Investment Group has agreed to help finance Kushner Cos.’ unsolicited $4.3 billion bid to buy rival apartment building owner Veris Residential (VRE) according to a letter from Fortress to Veris’s board.

December 12, 2022: Veris Residential (VRE) in its letter, the Board details its unanimous rejection of each of Kushner Companies’ latest unsolicited proposals to acquire Veris Residential, as well as a go-forward process to facilitate constructive dialogue between Veris Residential and Kushner Companies.

January 18, 2023: Kushner Companies informed Veris Residential (VRE) that it is not currently interested in moving forward with a transaction with the REIT.

 

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