BRE Properties Slammed Over Not Taking $4.6B Buyout Offer

Law360, New York (July 31, 2013, 1:41 PM EDT) -- Real estate investment trust BRE Properties Inc. has been publicly blasted by one of its investors for not considering a $4.6 billion buyout proposal and is being pushed to form an independent committee to look into a possible sale, according to a Wednesday letter.

Land and Buildings sent out a public letter calling for BRE's board to seriously explore a sale of the company, including a recent offer from an investor consortium that includes Land and Buildings to take over BRE for $60 per share. The...
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