New York REIT Inc. said the company will be liquidated after it completes a plan to sell its assets and return the proceeds to shareholders.
The company has determined, after considering other strategic alternatives available, that it is in the best interests of NYRT to adopt a plan of liquidation, according to a statement on Monday.
Net proceeds from the disposals are likely to be from $8.73 a share to $11.50 a share, according to the company. Shareholders will vote on the plan in due course.
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Read the full article at: http://www.bloomberg.com/news/articles/2016-08-22/new-york-reit-to-be-liquidated-after-company-sells-off-assets