COMPANIES Prospects for a record counterbid to the Blackstone Group’s agreed $36bn deal to take over Equity Office Properties, Sam Zell’s commercial real estate empire, appeared to dim on Tuesday as Cerberus Capital Management dropped out of the consortium considering an offer.
However, sources close to the matter said a counterbid could still materialise with a consortium including Vornado Realty Trust, Barry Sternlicht’s Starwood Capital and Leon Bluhm’s Walton Street Capital. Representatives from all those groups declined comment.
