BRE Investor Urges Sale Amid Report of $5B Offer

Law360, New York (December 5, 2013, 4:14 PM EST) -- Investment firm Land and Buildings called on BRE Properties Inc.'s board of directors Thursday to consider selling the company amid reports earlier this week that competitor Essex Property Trust has offered to buy the company for about $5 billion.

For at least the second time this year, Land and Buildings has slammed BRE. In this latest attempt, Land and Buildings said BRE should explore selling itself citing a report in Bloomberg that said Essex had made an offer to by the company. Land and Buildings founder...
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