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By Stephen Nakrosis
Monmouth Real Estate Investment Corp. on Monday said its board has decided to re-initiate exploring strategic options.
Last month, Equity Commonwealth terminated a merger agreement with Monmouth after Monmouth’s shareholders didn’t approve the deal at a special meeting.
Brian Haimm, Monmouth’s lead independent director, said “based on the results of the special meeting and other factors, we are again commencing a comprehensive and thorough strategic review of all available alternatives.”
Monmouth said it would consider alternatives including “a potential sale or merger, joint ventures and changes in the capital structure of the company.”
The company also said it will consider all viable proposals, including proposals submitted by Starwood Capital or other potential counterparties.
The real estate investment trust said Wachtell, Lipton, Rosen & Katz has been engaged to assist with the process.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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