Sizeler Hires Adviser

The stock rises as Chairman Tanz pledges to maximize shareholder value.
Author:
Publish date:

Sizeler Property (SIZ) - Get Report hired Wachovia Capital Markets to consider strategic alternatives including a sale of the company or other transactions.

The New Orleans-based real estate investment trust said other deals could include a merger or other business combination with another entity, a recapitalization, a reorganization or a restructuring.

"We look forward to working with Wachovia in our efforts to maximize shareholder value through the pursuit of various strategic alternatives," said Chairman Mark Tanz. "No timetable has been set for consummating one or more of these strategic alternatives."

Sizeler rose $1 early Wednesday to $14.