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News Breaks
June 25, 2014
07:22 EDTNSAM, NRFNorthstar Realty announces dates for NorthStar Asset Management spin-off
NorthStar Realty Finance (NRF) announced that, in connection with the previously announced spin-off of its asset management business, its Board of Directors declared a record date and distribution date of June 30 for the distribution of all the outstanding common stock of NorthStar Asset Management Group (NSAM) to the holders of NorthStar Realty common stock. The record date for both the reverse stock split and the Distribution will be after the close of regular New York Stock Exchange trading hours on June 30 and both transactions will be completed and effective by 11:59 PM, New York City time, on such day. On July 1, the first trading day following the Distribution, NSAM common stock will commence trading on the NYSE under the ticker symbol "NSAM" and NorthStar Realty's common stock will continue to trade on the NYSE under the ticker symbol "NRF." In connection with the Distribution, NorthStar Realty is conducting an internal corporate reorganization and a one-for-two reverse stock split of its common stock, pursuant to which NorthStar Realty will merge with and into its subsidiary, NRFC Sub-REIT Corp., and the survivor will be re-named NorthStar Realty Finance Corp, which will be the entity that effects the reverse stock split and the Distribution. In the Distribution, each NorthStar Realty common stockholder will receive shares of NSAM common stock on a one-for-one basis, after giving effect to the one-for-two reverse stock split.
News For NRF;NSAM From The Last 14 Days
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January 29, 2016
13:03 EDTNSAMNorthStar Asset Management responds to Land and Buildings
NorthStar Asset Management Group responded to a public letter from Land and Buildings announcing its intention to nominate six representatives to NorthStar's Board of Directors at the 2016 Annual Meeting of Shareholders. Land and Buildings informed NorthStar yesterday that it recently acquired less than one percent of NorthStar's outstanding shares. NorthStar is disappointed Land and Buildings would pursue a potentially disruptive proxy contest while the Board focuses on its work with Goldman, Sachs & Co. to review strategic alternatives to maximize shareholder value, a process that is well underway.NorthStar's Board will make a formal recommendation it believes is in the best interests of all shareholders in due course. Shareholders need not take any action with respect to their shares at the present time.
09:01 EDTNRF, NSAMLand and Buildings nominates six directors to NorthStar Asset Management
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January 27, 2016
10:23 EDTNRFOptions with decreasing implied volatility
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