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Reckson Pencils New Shareholders Meeting, Again

NEW YORK CITY-The Uniondale-based company also confirms it has received a letter from a partnership of Carl Icahn and Marry Macklowe offering $49 per share for all Reckson's outstanding stock.

By Melissa Kress | Updated on November 27, 2006

NEW YORK CITY-For the second time in less than week, Reckson Associates Realty Corp. has postponed it’s a special shareholders meeting to approve a pending merger with SL Green. Instead of meeting tomorrow, the shareholders are now set to vote on the approximately $6-billion proposal on Dec. 6.

The move comes as the Uniondale-based office REIT confirms it has received a letter from Rome Acquisition Limited Partnership topping SL Green’s bid, with a $49-per-share offer of its own. The cash offer would cover all Reckson’s outstanding shares, subject to due diligence. According to Reckson officials, the letter states that Rome–a partnership of entities associated with Harry Macklowe and Carl Icahn–expects to have a definitive binding proposal along with binding commitments from lenders no later than Dec. 4.

However, officials stress in a statement that to date, Macklowe and Icahn have not submitted a binding proposal to acquire Reckson, or “that such a proposal would result in a transaction with Reckson at either the price set forth in such proposal or otherwise.”

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