Landlord Veris Rejects Kushner’s Takeover, Management Offers (1)

Veris Residential Inc., formerly known as Mack-Cali Realty Corp., rejected Kushner Cos.’s offers to manage the company or take it over.

The real estate firm formerly run by Donald Trump’s son-in-law, Jared Kushner, proposed two offers in an October letter, one in which the company would buy Veris for $16 a share and another offer in which Kushner would externally manage Veris.

On the takeout offer, “the board believes this proposal grossly undervalues the company in its current form,” Veris’s board said in a letter to Charles Kushner released Thursday. The board also rejected the external-management proposal, saying it ...