While the merger announcement was expected to be made Wednesdayafter the scheduled special shareholder meeting, Reckson AssociatesRealty Corp. shareholders took another day to agree to the merger.In that time period, SL Green agreed to pay an additional $25million by increasing its bid by $0.29 in cash per share of Recksonstock, a move certainly part of the last months public turmoil overthe deal.

The merger agreement, which was announced in August,had SL Green paying between $44.89 to $31.68 in cash per share aswell as $13.21 of SL Green shares for each Reckson one and acquire$2 billion in debt. The deal also allowed for a $100 millionbreak-up fee plus up to a $13 million reimbursement ofexpenses.

But some shareholders felt Green did not assign enough value tothe company. Additionally, these shareholders were upset that themerger agreement included the selling by Green of the non-coreassets to a team of Reckson management led by Scott Rechler, sinceSL Green was interested primarily in the core urban assets in theportfolio.