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Veris Residential is using Gasthalter & Co. as it receives a hostile takeover bid from Kushner Cos.
The bulk of the Jersey City-based real estate investment trust’s properties are located in the Garden State. They include complexes such as Harborside and Port Imperial on the Hudson River overlooking Manhattan.
In his Oct. 20 letter to VR’s board of directors, Charles Kushner notes that he is willing to negotiate but has been “effectively ignored.”
He claims Veris has a bloated overhead and management with little experience in the management of multi-residential units.
Kushner also takes a swipe at Veris CEO London-based Mahbod Nia. “Veris cannot continue to be operated from Europe,” wrote Kushner.
Veris is evaluating Kushner Cos. $16-per-share offer.
Gashalter & Co. has Amanda Shipner and Grace Cartwright representing Veris.
Joele Frank handles Pine Gate Renewables as the Asheville, NC-based solar power development company declares Chapter 11 in the aftermath of Donald Trump’s cuts to wind & solar tax credits.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
