Colony Capital +1.2% after pact with activist, forms review committee

|About: Colony Capital, Inc. (CLNY)|By:, SA News Editor

Colony Capital (NYSE:CLNY) gains 1.2% in premarket trading after entering a cooperation agreement with Blackwells Capital.

Appoints Raymond Mikulich and Craig Hatkoff to the board, effective immediately.

Blackwells and Colony will jointly agree on an additional appointment to the board.

Board forms a strategic asset review committee to review, evaluate, and make recommendations to the board on issues relating to the company's assets and business configuration.

Blackwells has agreed to certain customary standstill provisions, including voting in favor of the company's proposed slate of directors at Colony's 2019 annual meeting.

Previously: Colony Capital up 3.5% on activist interest (Feb. 11)

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