Reckson Shareholders Approve Merger with SL Green Realty

RecksonAssociates Realty's shareholders approved an almost $4 billion merger with SL Green Realty, Reckson said Thursday.

The agreement comes quick on the heels of financier Carl Icahn and real estate developer Harry Macklowe making separate offers for parts of Reckson's portfolio of properties. Icahn said he made an offer to buy certain properties in Westchester County, New York, now held by Reckson.

A spokesman for Macklowe said the developer held recent interest in some of Reckson's properties, but said he is no longer interested. An Icahn representative declined to
comment.

SL Green and Reckson each confirmed that they had not received any offer from Macklowe, but made no official comment about an Icahn bid.

A source said Macklowe offered $2.3 billion for Reckson's Manhattan and Long Island City properties, less than the value SL Green has put on those properties.

Reckson Chief Executive Scott Rechler said the company would not consider either offer. SL Green said it will not agree to any further extension or adjournment of the shareholder vote.