Thursday, January 11, 2007

Cerberus Capital Could Top Blackstone Group's Deal to Buy Equity Office Properties (EOP)

According to reports from the Financial Times, Cerberus Capital Management is considering topping The Blackstone Group's $36 billion bid for Equity Office Properties (NYSE: EOP). Real estate investors including Starwood Capital and Vornado Realty Trust (NYSE: VNO) could join Cerberus.

In November, Equity Office Properties agreed to be acquired by Blackstone Real Estate Partners, an affiliate of The Blackstone Group, for $48.50 per share in cash.

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