CDR - Cedar Realty jumps after judge looks to denies motion to block sale to Wheeler

Cedar Realty Trust (NYSE:CDR) rose after a judge appeared that he was going to deny an effort to temporarily block the REIT's sale to Wheeler Real Estate Investment Trust (NASDAQ:WHLR). Cedar Realty Trust announced its sale to Wheeler (WHLR) and several other transaction for a total of $29/share in cash in March. The sale announcement followed the completion of CDR's dual-track review of strategic alternatives that started in September. Cedar Realty Trust (CDR) was sued by by a plaintiff and other preferred holders (NYSE:CDR.PC) who were seeking a temporary restraining order to stop the transaction as they alleged a  breach of contract, among other claims. Raymond James analyst RJ Milligan wrote in a note in early March that he saw the possibility of a lawsuit from preferred holders. "In short, the CDR common equity holders are winning, but at the cost of preferred shareholders," Milligan wrote in March. "Even if there is

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Cedar Realty jumps after judge looks to denies motion to block sale to Wheeler