WSJ: Vornado selling Penney stake via Citi

|About: Vornado Realty Trust (VNO)|By:, SA News Editor

Less than a week after Vornado (VNO) CEO Steven Roth resigned from J.C. Penney's (JCP) board and reiterated his firm's intention to unload its remaining 13.4M-share (6.1%) stake in the hard-luck retailer, the WSJ reports (citing marketing materials) Citi is offering the stake to investors for $13.05-$13.10/share.

JCP +0.6% AH to $13.22, after falling 2.3% in regular trading to $13.14.