Paramount Group has confirmed that it has received an unsolicited, non-binding proposal from Monarch Alternative Capital LP to acquire all of the Company’s outstanding common stock for USD12.00 per share in cash.
Paramount Group is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco
Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Paramount Board of Directors will carefully review the unsolicited proposal to determine the course of action that it believes is in the best interest of the Company and all Paramount stockholders. Paramount stockholders do not need to take any action at this time.
