Why does Tejon Ranch Co. believe that the agreement is in the best interests of its shareholders?
Tejon Ranch Co. believes that without this agreement, insulating the Ranch from a multitude of legal challenges in both state and federal courts, it would have faced a number of years of costly litigation. The agreement gives the company the expectation that, upon receiving entitlement approvals from the counties and permits from regulatory agencies, it will be able to begin development as market conditions dictate. Tejon Ranch Co. believes this is precisely what its shareholders would expect of the company. Further, it believes that many of its shareholders will be proud that the company can both deliver on its business plan and continue its legacy of good stewardship.
