Domenico De Sole, chairman of Sotheby’s Board of Directors, says that the board of directors approved the purchase deal after a comprehensive review. “After more than 30 years as a public company, the time is right for Sotheby’s to return to private ownership to continue on a path of growth and success," he says.
"We thank the company's stockholders for engaging with the Mack-Cali Board and management team and providing constructive feedback. We welcome the newly elected directors and look forward to working collaboratively with them to create value for our stockholders," said Mack-Cali Realty chairman William Mack.
The total number of businesses grew by 11.1% from 2011 to 2016, surpassing the statewide business gains of 8.6%.
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