Blackstone Group has upped the ante in the bidding war for Equity Office Properties, offering $54 a share in cash for the giant REIT, an increase of $5.50 a share from its November buyout offer. The bid surpasses the $52-a-share offer a group of investors led by Vornado Realty Trust made last week. EOP said its board has unanimously voted to accept Blackstone’s new offer, and a shareholders’ meeting will consider it on Feb. 5. The Vornado-led group is not out of the running for the buyout, though, as it has until the end of the month to submit its own new offer. more [NYT]
more [WSJ]
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New offer in EOP bidding war
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