According to a letter that G&L Realty has sent to the Weisman Group, the company will not consider any proposal unless "it is in the form of a definitive acquisition agreement executed by you, which becomes immediately binding upon execution and delivery to you by the company and which is accompanied by a deposit of not less than $2.5 million." The two companies have been negotiating the merger for months. However, G&L Realty officials have said they will not spend any more time or resources considering further proposals unless "they are in the form of an offer capable of being accepted."
Founded in 1976, G&L Realty is a health care real estate investment trust with four major divisions. The trust specializes in medical office buildings, nursing facilities, assisted living facilities and senior care lending.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.