Shareholders sign off on Paramount’s sale to Rithm
Paramount Group is one step closer to being sold and Albert Behler is one step closer to receiving his golden parachute, whether his shareholders want him to have it or not. This week, Paramount’s shareholders approved the real estate investment trust’s sale to Rithm Capital, Crain’s reported. The Manhattan-based buyer submitted a $1.6 billion bid for the acquisition in September, which was $6.60 per share, 11 percent below market price. Saray Capital, a Dubai-based investment firm with a small stake in Paramount, swooped in this month with an offer of $6.95 per share, according to a regulatory filing. But Paramount’s […]
This article originally appeared on The Real Deal. Click here to read the full story.
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