LandSec Deal Collapses as Sculptor Seeks Price Cut

Land Securities Group Plc’s deal to sell an office building in London’s Victoria district has collapsed after the potential buyer sought a last minute price reduction.

Sculptor Capital Management Inc.’s revised offer for 123 Victoria Street has been rejected by LandSec and the real estate investment trust is now considering its options for the building, people with knowledge of the transaction who asked not to be identified discussing confidential information said. It’s not immediately clear why Sculptor revised its offer.