Deals
Forest City Says It's Considering Options Including a Merger
- REIT had faced investor pressure to increase shareholder value
- Company is best known for Brooklyn’s Pacific Park development
The Atlantic Yards project in Brooklyn, New York, on June 12, 2017.
Photographer: Andrew Lichtenstein/Corbis via Getty ImagesThis article is for subscribers only.
Forest City Realty Trust Inc., a property company that’s faced pressure from an activist investor, said it’s considering alternatives to increase shareholder value, including a potential merger or acquisition.
The Cleveland-based real estate investment trust, with $8.2 billion in assets, will look at a range of options while it continues its current strategies, according to a statement Monday. In the past several years, Forest City has worked to pay down debt, reduce complexity and reform its corporate governance while focusing on core urban markets.