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’Sainsbury war looms as suitors test waters
Prospects of a full-scale bidding war for J Sainsbury have grown as the supermarket group attracted fresh predators and the original CVC-led consortium met pension trustees last Friday. Senior members of the CVC-led team,
Blackstone wins EOP in $39bn buy-out
The determination of private equity groups to own ever greater swathes of the global economy was highlighted on Wednesday as Blackstone emerged with a winning $38.9bn bid in the takeover battle for Equity Office Properties.
Blackstone raises the stakes in battle for Equity Office
Blackstone has raised its takeover bid for Equity Office Properties Trust to $55.50 per share from $54, the US office landlord said in a statement on Monday, a deal that would be worth $39bn.
This latest volley in the increasingly heated battle for EOP comes after rival bidder Vornado Realty Trust sweetened its own offer.
Vornado in fresh bid to win over EOP
Vornado Realty Trust on Sunday night offered to pay the cash portion of its $39.1bn bid for Equity Office Properties upfront, in a fresh attempt to win over investors and board members in the take-over battle for the commercial property group.
Equity Office prefers Blackstone
The saga continues. Equity Office Properties’ board reaffirmed its support for the $54 per share takeover offer from buyout group Blackstone, shunning Vornado Realty’s $56 per share cash-and-stock offer.
Vornado offers $39.1bn for EOP
Vornado Realty Trust launched a bold $39.1bn offer to buy Equity Office Properties, which, if successful, would thwart an existing $38.3bn deal for EOP to be bought by Blackstone, in the largest leveraged buy-out on record.
Blackstone says it will not be drawn higher for EOP
Well, on the face of things, that appears to be that. Buyout group Blackstone issued a terse statement to Reuters saying it would not be raising its offer for Equity Office Properties, the real estate investment trust that has been subject to a three month bid battle.
The backroom bond pressure at EOP
It almost makes the world of real estate investment trust-related bonds sound glamorous. Bloomberg on Thursday detailed the manoeuvrings of a group of REIT debt investors who have forced particularly sweet terms out of buyout group Blackstone in the fiercely contested Equity Office Properties bid battle.
Vornado to raise EOP bid
An investor group led by Vornado Realty Trust is expected to raise its bid for Equity Office Properties, topping Blackstone’s $38.3bn bid in one of the biggest buyout fights in history, reports the Wall Street Journal.
Blackstone raises EOP offer to $38bn
The battle for control of Equity Office Properties intensified as Blackstone, the US private equity group, raised its record buy-out offer for Sam Zell’s commercial property empire by nearly $2bn to more than $38bn,
Blackstone sweetens its Equity offer, but the deal is not quite done
Equity Office Properties, fielding offers from two suitors promising to make it the biggest buyout target in history, gave a formal nod of acceptance on Wednesday to a raised offer from Blackstone.
EOP opens books to Vornado-led consortium
Equity Office Properties agreed to give a consortium of investors led by Vornado Realty nine days of access to its books, paving the way for a formal counterbid to be tabled for Sam Zell’s commercial real estate empire.
An outbreak of competition in the cozy world of PE
Private equity firms are flush with cash, so the competition for deals has turned cutthroat, says the New York Times’ DealBook.
“The upstart bid for Equity Office Properties, the real estate investment trust that was founded by Samuel Zell,
Vornado in $39bn counterbid for EOP
A trio of investors led by Vornado Realty Trust has launched a $39bn cash and stock bid for Equity Office Properties, Sam Zell’s commercial real estate empire. The move could spark a bidding war with private equity group Blackstone,