Fortress Said to Approach Whitestone REIT About a Takeover (2)

Fortress Investment Group has approached retail landlord Whitestone REIT about a takeover, according to people with knowledge of the matter.

Whitestone, which had a market capitalization of $459 million at the close of trading Wednesday, rebuffed the alternative-asset manager, said one of the people, all of whom asked not to be identified discussing confidential information. Terms of the Fortress offer couldn’t immediately be learned.

A Whitestone representative declined to comment. Gordon Runte, a spokesman for Fortress, which has about $45 billion of assets under management, declined to comment.

Whitestone shares surged as much as 11% after Bloomberg News reported ...