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Arden Realty Settles With GE Capital Over Merger Deal

Law360 (April 24, 2006, 12:00 AM EDT) -- After negotiating with General Electric Capital Corp. to resolve consolidated putative class actions, Arden Realty Group Inc. said Monday it will dismiss its agreement to be acquired by General Electric Co.’s commercial finance real estate unit.

The lawsuits alleged that Arden’s merger plans were inadequate and that Arden violated its responsibilities to shareholders by negotiating and agreeing to the merger deal, according to Arden in a U.S. Securities and Exchange Commission filing.

On Dec. 21, 2005, GE’s real estate subsidiary, Atlas Merger Sub Inc., declared that...
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