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Litt Says Mack-Cali May Have Turned Away Unidentified Suitor

BNN Bloomberg

(Bloomberg) -- Activist investor Jonathan Litt says his hedge fund learned that a potential buyer was interested in making a fully financed bid for Mack-Cali Realty Corp. In a letter to the real estate investment trust’s board, Litt, the founder of Land & Buildings Investment Management, said the directors should consider the potential offer. Litt, saying his firm now owns more than 2 percent of Mack-Cali, didn’t identify the possible buyer in the Sept. 5 letter obtained by Bloomberg News...

Mentions: Investment Management Hedge Fund