Prnewswire·2026-01-07 21:15Core Viewpoint - MCB Real Estate is committed to acquiring all outstanding shares of Whitestone REIT for $15.20 per share in cash, representing a 21.0% premium over the unaffected share price, and is prepared to take necessary actions to maximize shareholder value [1][2][4]. Group 1: Acquisition Proposal - MCB Real Estate has proposed to acquire Whitestone REIT at a price of $15.20 per share, with no financing contingency [1]. - The proposal represents a 21.0% premium to Whitestone's unaffected share price as of November 3, 2025 [2]. - MCB has not received a response from Whitestone's Board regarding the acquisition proposal submitted over two months ago [2]. Group 2: Shareholder Engagement - MCB holds approximately 9.2% of Whitestone's outstanding shares and urges the Board to act in the best interests of all shareholders by engaging with MCB [2][4]. - The company expresses frustration over the Board's inaction and emphasizes the need for a public strategic alternatives process [5]. Group 3: Board Accountability - MCB asserts that the incumbent Board has not made meaningful progress in addressing the company's value gap or underperformance relative to peers [4]. - The company plans to vote against all incumbent Whitestone directors at the next Annual Meeting of Shareholders if no action is taken [4]. Group 4: Company Background - MCB Real Estate, founded in 2007, is a national commercial real estate investment management and development firm with approximately $4 billion in assets under management [6]. - The firm manages a diverse portfolio totaling around 20 million square feet, with 6 million square feet in its development pipeline [6].