- Brookdale Senior Living (BKD -0.7%) slips a little after activist shareholder Jonathan Litt urges other shareholders to press the company to sell a substantial amount of real estate and push for "shareholder-friendly governance changes."
- He suggests that the company should immediately put up for sale portfolios of $500M-$1B and should pursue a senior housing REIT for its real estate.
- "We are disappointed the board did not announce, as part of the company’s second quarter results, plans to materially monetize its real estate or propose a fulsome modernization to its corporate governance, as previously requested," Litt wrote in his letter.
- He also urges the board to re-evaluate Jackie Clegg's inclusion on any committee and consider not re-nominating her at the annual meeting on Oct. 4, saying her knowledge of best corporate practices is dated and she has a "strong bias for entrenchment."
- Source: Press Release
- Previously: Brookdale Senior Living Q2 affected by transactions as part of turnaround (Aug. 6)
- Previously: BKD investor Litt: may be time to `revisit broad real-estate monetization' (May 18)
- Now read: Front Yard jumps 15% after big purchase
Original article