MCB is accusing Whitestone REIT's board of being unwilling to consider its shareholders' best interests after rejections of its acquisition proposals.

MCB Real Estate ("MCB" or "we") delivered an attractive, fully-financed proposal to the Whitestone Board to acquire Whitestone for $15 per share in an all-cash transaction.

Whitestone REIT’s board said it didn’t believe the offer was an “appropriate valuation” in an Oct. 30 letter to MCB.

This development follows MCB's attempts to engage with Whitestone over several months, which were met with resistance from Whitestone's board. The situation underscores the challenges activist ...