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JBG SMITH opts out of Md. takeovers, business combination acts in bylaw changes

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JBG SMITH opts out of Md. takeovers, business combination acts in bylaw changes

JBG SMITH Properties' board of trustees approved resolutions to opt out of the Maryland Unsolicited Takeovers Act, or MUTA, and the Maryland Business Combination Act.

In order to fully exit the provisions of MUTA, shareholders will have to approve an amendment to the declaration of trust at the 2018 annual meeting.

In addition, the diversified office real estate investment trust approved charter changes, granting shareholders the right to amend the company's bylaws and call for a special meeting of shareholders, provided a certain voting threshold is satisfied.