Mission West: potential buyer loses financing; three other companies to complete due diligence

By Lisa Kerner

Charlotte, N.C., Aug. 13 - Mission West Properties, Inc. said its potential buyer's primary and secondary lenders have withdrawn, and while discussions continue, Mission West is doubtful the transaction will close.

The company, as a result, has contacted three other potential acquirers who are completing financial due diligence, a company news release stated.

On July 14, Mission West announced it had begun negotiations with "a leading real estate private equity fund" to acquire the company for $13.55 per share in cash in a deal valued at $1.8 billion.

Mission West, a self-managed Cupertino, Calif., real estate investment trust, is continuing to lease buildings, pursue new tenants and operate normally.

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