Mack-Cali Plans To Form Committee To Review Strategic Options, Incl. Sale

(RTTNews) - Mack-Cali Realty Corp. (CLI) said that it plans to form a committee of independent directors to conduct a review of the company's strategy, which includes considering a sale of the company or any of its assets, or take other action to maximize stockholder value.

It is expected to form the Strategic Review Committee following the company's upcoming Annual Meeting of Stockholders scheduled for June 12, 2019. The committee will consist of four independent directors, including at least two new independent directors not currently serving on the Board.

Mack-Cali noted that it plans to extend to MaryAnne Gilmartin and Frederic Cumenal an offer to join the Board immediately following the Annual Meeting. If Ms. Gilmartin and Cumenal accept the company's offer to join the Board, the Board also intends to appoint at least one of them to the Strategic Review Committee.