Highwoods Properties Rejects Offer
Highwoods Properties(HIW Quote), a real estate investment trust, confirmed Thursday that its board rejected an unsolicited acquisition proposal from Capital Partners. Shares closed the day at a new 52-week high.
The Raleigh, N.C.-based REIT said that it wanted to remain independent.
"Our board of directors strongly believes that our strategic management plan is the right course of action for the company, " the company said. "We believe that remaining independent and continuing to execute our well-defined plan will provide our shareholders with more significant and sustainable long-term value. Given our board's confidence in the strategic management plan, we are not in discussions and have no intention of entering into discussions with Capital Partners." ...
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