Bank Of America Profit Rises 47% Big gains in equity investments buoyed Bank of America’s earnings in the fourth quarter.... Read Full Article Disney Reports Higher Third-Quarter Profit LOS ANGELES (Reuters) - Walt Disney Co, the No. 2 U.S. entertainment company, reported a higher net profit on Wednesday, driven by strong performances at its television network, parks and consumer pro... Read Full Article John W. Backus, 82, Fortran Developer, Dies Mr. Backus assembled and led the I.B.M. team that created Fortran, the first widely used programming language.... Read Full Article After Clashes, Curfew Is Set In Taj Mahal Area A fatal road accident early Wednesday morning fueled the violent clashes on the streets of Agra, India, home to the Taj Mahal.... Read Full Article Alcoa Faces US Probe On Bahrain Bribery Claims The US Justice Department has begun a criminal investigation into Alcoa, the US aluminium group, over allegations the company bribed officials in the Persian Gulf state of Bahrain.... Read Full Article |
REIT To Consider Another Takeover BidEquity Office Properties, which agreed in November to be bought by a private equity company, the Blackstone Group, for $36 billion, including debt, said yesterday that it would begin discussions with a rival group that has offered to top that price. Equity Office, the nation’s largest office landlord, with 585 buildings in 24 metropolitan areas, also said it would open its books to the challengers, a consortium led by Vornado Realty Trust. Raising the stakes in what was already the largest buyout battle ever, Vornado and its partners, Starwood Capital Group and Walton Street Capital, proposed last week to pay $52 a share for Equity Office, or 7.2 percent more than what Blackstone has offered. Vornado, a real estate investment trust that owns more than 100 million square feet of office, retail and showroom property, said its offer would include about $10.6 billion of its stock. Setting a Jan. 31 deadline for the Vornado group to submit a formal proposal, Equity Office said it continued to recommend approval of the Blackstone merger. A Blackstone spokesman, John Ford, had no comment, except to point out that the Blackstone deal could close three days after Equity Office shareholders approve the transaction. The vote is scheduled for Feb. 5. Tag CloudExternal InformationAdditional InformationInvesting: Has Real Estate Lost Its Sizzle? Not on the Farm...Rolls-Royce sales soar as new Phantom coupe makes its marque on the forecour... Penney’s Warning Adds to Retail Gloom... Advertising: Dancers in the Crowd Bring Back ?Thriller?... Where Am I?News Main Page - Business - REIT To Consider Another Takeover Bid |
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