Report: Icahn Plans Reckson Bid

The move could spoil the REIT's planned acquisition by SL Green.
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Billionaire financier Carl Icahn is reportedly planning to make an offer for

Reckson

(RA) - Get Report

, a move that could potentially spoil the real estate investment trust's planned acquisition by

SL Green

(SLG) - Get Report

.

According to

The Wall Street Journal

, Icahn and New York real estate firm Macklowe Properties plan to offer $49 a share for Reckson. The REIT, which owns several offices in the hot Manhattan market, agreed to be

bought by SL Green in August in a cash-and-stock deal valued at about $43.31 a share at the time.

Shares of Reckson recently were up $2.79, or 6.2%, to $47.85 on the

Journal

report.

The SL Green deal had brought criticism from certain Reckson shareholders, who were upset about the REIT's plan to also sell several of its non-Manhattan properties to its CEO. The holders argued that the properties weren't marketed to other potential bidders and could have been bought for a higher price.