Phoenix-based office REIT Orion Properties unanimously rejected a $126 million buyout offer from Kawa Capital Management, ...

The REIT’s board of directors unanimously rejected the offer from South Florida-based Kawa Capital, saying it significantly undervalued the firm's assets.

Orion Properties (ONL) stock was trading lower after the office REIT said on Wednesday that its board has unanimously rejected an unsolicited acquisition offer from Kawa Capital Management.

Orion Properties Inc. (NYSE: ONL) ("Orion" or the "Company") today announced that the Company’s Board of Directors ...