Exclusive: Property firm UDR explores deal with Mack-Cali Realty - sources [Reuters]
Mack-Cali Realty Corporation (CLI)
Last mack-cali realty corporation earnings: 2/26 07:36 pm
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Source: Reuters
Exclusive: Property firm UDR explores deal with Mack-Cali Realty - sources (Reuters) - U.S. multi-family apartment firm UDR Inc ( UDR.N ) is exploring a combination with Mack-Cali Realty Corp ( CLI.N ), an owner of multi-family rental properties and commercial office space, people familiar with the matter said on Thursday. UDR’s interest coincides with a board committee established by Mack-Cali to review its strategic options mulling whether to pursue a sale of the company. Mack-Cali said on Thursday that it would follow the committee’s recommendation to sell its suburban office portfolio totaling approximately 6.6 million square feet. UDR is in talks about partnering on its bid for Mack-Cali with investment firm Rizk Ventures CEO Thomas Rizk, and has contacted Mack-Cali to express its interest, the sources said. Rizk was CEO of Mack-Cali from 1997 to 1999, and previously led Cali Realty, whose merger with Mack Company created Mack-Cali in 1997. UDR and Rizk are discussing whether
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