Monmouth Shareholders Say No to Sam Zell's Offer
Real estate moguls Sam Zell and Barry Sternlicht's battle for industrial real estate investment trust (REIT) Monmouth Real Estate Investment (NYSE: MNR) has ended. Monmouth shareholders rejected a sweetened cash-and-stock merger proposal from Zell's Equity Commonwealth (NYSE: EQC). As a result, Equity Commonwealth terminated its merger agreement with Monmouth.