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Strategies & Market Trends : Speculating in Takeover Targets
CTG 7.590-5.0%3:59 PM EST

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From: E_K_S10/3/2019 9:17:56 AM
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Brookdale calls activist investor's nominee 'unfit' for board
Oct. 3, 2019 9:03 AM ET|About: Brookdale Senior Living Inc. (BKD)|By: Liz Kiesche, SA News Editor

In a letter to its shareholders, Brookdale Senior Living (NYSE: BKD) calls Land & Buildings' nominee for its board, Jay Flaherty, "unfit to serve on the board" and says he could endanger Brookdale's relationships with its largest landlords.

Urges shareholders to vote for its nominees -- Victoria Freed and Guy Sansone -- at the company's annual meeting on Oct. 29, 2019.

Notes that Glenview Capital Management, its largest stockholder, has endorsed both of Brookdale's nominees.

Says the company has tried to come to an agreement with Jonathan Litt's Land & Buildings, but, "at every turn, Land & Buildings has declined our proposals."

Previously: Investor Litt urges split of Brookdale into REIT and senior housing operator; shares up 2% (Nov. 30, 2018)

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Held this for a short time last year on acquisition/Buy-Out rumors but deal never got done. It was rumored to get done at $9-$10 per share. BOD is dysfunctionall . .I see that one activist investor agrees.

Not enough in it IMO to get me interested again.

Note: There was some proposal to split out some assets and merge w/ another REIT
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