Vornado Terminates Offer to Buy Equity Office Properties
Vornado Terminates Offer to Buy Equity Office Properties
February 7, 2007
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PARAMUS, N.J.--(BUSINESS WIRE)--
Vornado Realty Trust (NYSE: VNO) announced today that it has terminated its fully-financed, definitive proposal to acquire Equity Office Properties Trust (NYSE: EOP). Vornado concluded that the premium it would have to pay to top Blackstone's latest bid, protected by a twice increased breakup fee, would not be in its shareholders' interest.
Source: Vornado Realty Trust
Contact: Investors: Vornado Realty Trust Joseph Macnow, 201-587-1000 or Media: Kekst and Company Roanne Kulakoff, 212-521-4837 Wendi Kopsick, 212-521-4867