Veris Residential rises on saying buyout offer undervalues company
25/11/2022 15:04
** Shares of real estate investment trust Veris Residential
Inc VRE.N up 2% at $15.86
** VRE's board unanimously believes that Kushner Companies'
$16.00-per-share proposal undervalues company, as per its latest
filing
** VRE says board remains open to evaluating any proposals
to maximize value for all shareholders
** On Oct. 21, Veris Residential confirmed receiving an
unsolicited proposal from Kushner Companies to acquire it for
$16/shr
** 5 of 6 brokerages rate Veris "hold"; 1 "buy'; median PT
$16 - Refinitiv
** VRE stock down 13.7% YTD vs 12.2% decline in S&P 600
Small Cap index .SPCY
(Reporting by Shashwat Chauhan in Bengaluru)
((Shashwat.Chauhan@thomsonreuters.com))