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Stockert Kills Rumor on Post's Sale/Merger

ATLANTA-The CEO/president of the 31-year-old, locally-based apartment REIT says the company hasn't received any buy-out offers or talked to any potential new investors, quelling speculation that Post Properties is on the selling block after a gloomy Q3 performance.

By Alex Finkelstein | Updated on November 13, 2002

ATLANTA-After weeks of speculation by some Wall Street analysts that Post Properties Inc. could be on the selling block, company CEO/president David Stockert closed the door Tuesday on those rumors.

“We have not received any proposals or engaged in any form of discussions, preliminary or otherwise, regarding a possible sale of the company or a management-led buy-out,” Stockert says in a prepared statement. “Any reports to the contrary are inaccurate.”

Stockert says he addressed the issue because “we believe we must respond to recent media reports speculating that we are considering a sale of the company…It is our normal policy not to comment on market rumors regarding the company.”

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