When Kushner Cos. sent a hostile bid letter dated October 20 to rival Veris Residential, claiming poor management resulting in a significant reduction of value, then offering to acquire all outstanding shares of the REIT for $16 per share, things seemed a bit vague.

Sharp criticisms in the letter lacked detailed substantiation and were impossible to immediately verify. A remark in the letter from chairman Charles Kushner about "attempts at fruitful engagement with the Board and management over the last several months" seems a reference to Kushner's claim of a Veris board non-response to its wish to manage the REIT's properties.

Now everyone has doubled down. Kushner released a follow-up last week to the letter, offering some additional details like the companies they said were a peer group. And now Veris replied after what it called "strong Q3 2022 earnings results" came out on Wednesday after market close.