Wednesday, September 25, 2019

Activist Investor Known for Debt Restructuring Targets Mall Owner CBL

The Wall Street Journal
An activist investor with a history of restructuring debt and forcing property companies to sell assets is targeting struggling mall owner CBL Properties .

Michael Ashner has acquired 5.97% of CBL as of late August, the most recent public filing. His firms have accumulated 10.35 million shares at a price range of 80 cents to $1.16 between June and August, according to a stock-exchange filing last month.

CBL shares trade around $1.16, which is down about 70% from a year ago.. . . more