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Forest City extends deadline for board nomination until March 28; implies extended time for strategic review

For those of us expecting an announcement regarding Forest City Realty Trust's corporate direction this afternoon, as indicated in my article for The Bridge, Forest City in Brooklyn: a Real Estate Pioneer on the Way Out?, well, let's wait a week.

An announcement this afternoon from Forest City, which is parent of Forest City New York, Forest City Further Extends Nomination Window for 2018 Annual Meeting of Stockholders:
"The Board of Directors has extended the window by which the Company must receive proper written advance notice of the nomination of director candidates at its 2018 Annual Meeting of Stockholders. The nomination window, which commenced on December 3, 2017, will now extend to 5:00 p.m. Eastern Time on March 28, 2018."
(Emphases added)

The new announcement did not mention the term "strategic review," which regards plans to potentially restructure, sell, or merge the company. However, when previously extending the nomination window, Forest City had 2/22/18 stated:
"The nomination window, which commenced on December 3, 2017, will now extend to 5:00 p.m. Eastern Time on March 21, 2018. The Board intends to conclude the strategic review process prior to expiration of the extended nomination window."
So if the nomination window is extended, that allows time for the strategic review process to be completed by March 28. So stay tuned.

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