New Blackstone bid for EOP

Blackstone Group raised its offer for Equity Office Properties to $39 billion, or $55.50 in cash a share. The bid is in answer to Vornado’s offer last week of $56 per share in cash and stock for EOP, or $41 billion total. EOP’s board recommended that its shareholders vote in favor of Blackstone’s offer tomorrow. If the REIT’s shareholders approve the bid, the deal could close as early as Friday. more [WSJ]