Equity Office still prefers offer from Blackstone
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From Reuters
Equity Office Properties Trust said it still preferred a $54-per-share cash offer from private equity firm Blackstone Group, despite a higher cash-and-stock bid of $56 a share from Vornado Realty Trust.
Chicago-based Equity Office , the largest U.S. office landlord, said it was recommending the $22.4-billion Blackstone deal because it believed it had “certainty of value and virtual certainty of closing in the immediate future.”
Shares of Equity Office rose 23 cents to $55.38.
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