Deals
Monmouth Holders Reject Bid from Zell’s Equity Commonwealth
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Sam Zell’s offer to buy Monmouth Real Estate Investment Corp. for $2.8 billion, including debt, was rejected at a special meeting of shareholders Tuesday.
Monmouth said in a statement that the preliminary figures show Zell’s Equity Commonwealth fell short of the necessary support to proceed with the transaction, confirming an earlier report by Bloomberg News. Zell’s firm had been competing in a months-long battle to acquire the industrial real estate company with Starwood Capital Group.