Equity Office recommends improved Blackstone bid of 55.50 usd in cash |
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Tue, 06 Feb 2007 13:00
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LONDON (AFX) - Equity Office Properties Trust said its agreement to be acquired by affiliates of The Blackstone Group still stands, after the investment group upped its bid to 55.50 usd per share in cash, valuing Equity Office at about 39 bln usd.Blackstone upped its all-cash offer following a rival 56 usd bid from Vornado Realty Trust, payable in cash and shares. Blackstone had previously offered 54 usd in cash.Equity Office shareholders will vote on the takeover on Wednesday, Feb 7. Blackstone will receive about 720 mln usd as a fee if its merger agreement with Equity Office is terminated.newsdesk@afxnews.comabrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Equity Office to review new Vornado bid 