Shareholders Okay Forest City REIT Plan
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Ratner calls the shareholder vote “a major milestone.”
CLEVELAND—Forest City Enterprises said Tuesday afternoon that its shareholders approved all of the proposals related to the company’s planned REIT conversion. Upon completion of the conversion, effective this coming Jan. 1, Forest City Realty Trust will continue to trade on the New York Stock Exchange under the symbols FCEA and FCEB.
Company chairman Charles A. Ratner calls the vote at a special meeting of shareholders “an important moment in Forest City’s history and a major milestone in our ongoing transformation. In more than 90 years since our founding, including 55 years as a publicly traded company, Forest City has constantly evolved and reinvented itself.” Tuesday’s shareholder vote, he adds, “marks another exciting chapter in that story.”…
