X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEVERLY HILLS, CA-A Superior Court judge here has issued a temporary injunction against the planned merger of G&L Realty Corp. and an entity controlled by its chief shareholders.

Primary shareholders Daniel M. Gottlieb and Steven D. Lebowitz want to buy the small healthcare REIT, which operates a handful of facilities in Southern California. Common shareholders Linda Lukoff and Richard Abrons are among those trying to stop the merger and—if they can deliver to the court a $16.2 million bond by 1:00 p.m. on Tuesday, Oct. 23—the court will hear further arguments in the case.

G&L also has received a revised proposal from shareholder Lyle Weisman to acquire G&L shares at $15.50 per share, and would require that the firm’s stock be delisted from the New York Stock Exchange upon the completion of the tender offer. It also calls for a breakup fee of $2.8 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.