UBP: Shareholder Objects To 'Unfair' $1.4B Urstadt Biddle Sale

The trustee of a stockholder in publicly traded real estate trust Urstadt Biddle Properties Inc. has filed a Connecticut state court lawsuit objecting to the terms of what he refers to as a proposed $1.4 billion sale to Florida-based Regency Centers Corp., saying a planned all-stock transaction is "unfair" because it is "well below the intrinsic value of the company."