Maguire drops plan to restructure board election process

11/30/2007 | Wall Street Journal (free content), The

Real-estate developer Robert Maguire III has decided not to press forward with a plan that would restructure the way directors are elected to the board of Maguire Properties Inc. Maguire's board of directors face re-election every year, instead of staggered years, so their positions are vulnerable to pressure from investors such as JMB Capital Partners Master Fund LP, which wants to the REIT to be sold.

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Wall Street Journal (free content), The

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