Equity Office moves ahead with due diligence in Dove offer, still considering Blackhawk-Forest

By Lisa Kerner

Charlotte, N.C., Jan. 22 - Equity Office Properties Trust's board of trustees is considering the unsolicited, non-binding proposal by Dove Parent LLC, formed by Vornado Realty Trust, Starwood Capital Group Global, LLC and Walton Street Capital, LLC, to acquire Equity Office.

As a result, Equity Office has begun providing diligence information in preparation for a definitive proposal by the group to the company by Jan. 31, according to a news release.

Vornado Realty, Starwood Capital and Walton Street on Jan. 17 offered to acquire Equity Office for $52 per share, payable 60% in cash and 40% in Vornado shares.

The board said it has not changed its recommendation of the pending merger with Blackhawk Parent to be put to a shareholder vote on Feb. 5.

Equity Office is a Chicago real estate investment trust.

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