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Mack-Cali Terminates Settlement Talks with Dissident Investor Group

“While the company continues to believe that an amicable resolution of Bow Street's expensive and disruptive proxy contest would be in the best interests of the company and its stockholders, in these circumstances, the company had no choice but to terminate settlement discussions with Bow Street,” Mack-Cali Realty states.

Michael DeMarco, CEO of Mack-Cali Realty Corp. Michael DeMarco, CEO of Mack-Cali Realty Corp.

JERSEY CITY, NJ—In an ongoing at times bitter back-and-forth battle between Mack-Cali Realty Corp. and Bow Street LLC, which has launched a proxy battle over the direction of the company,  the REIT announced today it has terminated settlement discussions with the dissident shareholder group.

In a statement released this morning, Mack-Cali Realty acknowledged that settlement discussions had been engaged with Bow Street LLC, which launched a proxy fight earlier this month following the rejection of its proposal seeking the possible financial restructuring and sale of Mack-Cali Realty Corp. Bow Street, which owns about 4.5% of Mack-Cali stock, is seeking the election of its four proposed candidates to the company’s board of directors as part of its proxy contest.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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