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Private Equity's Pr Problem - Cnn Money Article, Public is now Wiser;Carlyle tried to buy

jo56
post Feb 6 2007, 04:56 PM
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http://money.cnn.com/2007/02/06/markets/pe...sion=2007020614

Quote:

"Late last month the Federal Trade Commission challenged the proposed $22 billion buyout of Kinder Morgan (Charts) by Carlyle Group and Riverstone Holdings due to concerns about competition."

"Private equity groups are also bidding for Clear Channel, the nation's biggest owner of radio stations, and Equity Office Properties (Charts), the country's largest manager of office buildings."

"Shareholders of Clear Channel (Charts) are set to face off with the company's board next month over the proposed $26.7 billion buyout of the radio station owner - one of the biggest buyout deals announced last year."


"Shareholders are more aware on a whole range of issues affecting the capital markets today than they have been in the past and the new force of private equity is one of them," said Eleanor Bloxham, president of the Value Alliance, a group that advises companies on corporate governance."


THESE PRIVATE GROUPS ARE BUYING UP AMERICA - WHAT BETTER WAY FOR THEM TO CONTROL AMERICA?

YOU WANT TO BET THEY HAVE A PR PROBLEM! So where in our laws protects this from happening? Guess nothing, as these BOYZ make the laws, right? thumbdown.gif


This post has been edited by jo56: Feb 6 2007, 05:17 PM
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Cary
post Feb 6 2007, 05:32 PM
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You're one sharp cookie Ms. Jo. Yeah, the private money groups like Blackstone and Carlyle Group are buying all the choice stuff. I'm not sure why Blackstone is bidding so hard for Sam Zell's Equity Office Properties. Zell is known for buying low and selling high. Blackstone started out at about $20 billion back in November. Varnado Realty tried to outbid them, but Blackstone upped their bid this morning to about $39 billion. Sounds like their ego wouldn't let this deal go by. Bad move. And yes, the Masters of the Universe screw up big time occassionally.

http://www.topix.net/content/trb/208729781...705553947770331

QUOTE
New bid for Equity Office tops $39 billion

By Susan Diesenhouse

February 06, 2007

The bidding war to acquire the real estate portfolio of the nation's largest landlord escalated Tuesday as the Blackstone Group increased its offer for Chicago-based Equity Office Properties to $55.50 share on Tuesday.

The new offer amounts to approximately $39 billion for the real estate behemoth led by billionaire Sam Zell, believed to be the largest buyout of a public company in U.S. history. The amount of the break-up fee to be paid to Blackstone should the deal, approved earlier by Equity Office's board, be terminated was raised to $720 million from $500 million.

Both the Equity Office board of trustees and Zell continue to endorse Blackstone's offer even as rival bids from Vornado Realty Trust have valued the company higher.

Equity Office shareholders are scheduled to vote on the proposal on Wednesday. If approved, the merger could close as early as Friday.

Blackstone's new offer came after New York-based Vornado raised its bid for Equity Office on Sunday to $56 share. Vornado's offer was based on paying 55 percent in cash and 45 percent in Vornado stock.
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jo56
post Feb 6 2007, 05:54 PM
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http://www.fundinguniverse.com/company-his...ny-History.html

History of the company - Equity Office Properties Trust

".... the largest office building owner and manager in the US. It's portfolio comprised of more than 700 properties and 126 million square feet of office space. Moreover, the Chicago-based REIT is the first real estate company to be included in the S&P 500 and the only member of the Fortune 500. EOP is geographically diverse, with office space in almost ALL MAJOR METRO AREAS."

I think this is reason enough smile.gif

This post has been edited by jo56: Feb 6 2007, 06:12 PM
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jo56
post Feb 6 2007, 06:08 PM
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See Rep. Ron Paul's COMMENT at end of this article on REITs:

http://www.capitalspectator.com/archives/2...market_i_1.html

This post has been edited by jo56: Feb 6 2007, 06:21 PM
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jo56
post Feb 7 2007, 09:12 AM
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The Plot thickens. Look at these connections to the company above.

When Zells partner Lurie died, a lady by the name of Sheli Rosenberg took over his duties. She is formerly a partner of Schiff Hardin & Waite law firm. (NOTE: SCHIFF - one of the ruling ELITE families)

http://www.equityinternational.com/eip2.aspx?pgID=880

Also, Gary Garrabrant is the CEO of Equity International (part of the same companies). Look who he USE TO BE WITH -

"Mr. Garrabrant was a senior real estate investment banker with Chemical Bank followed by The Bankers Trust Company from 1981 to 1994."

http://www.equityinternational.com/printfr...2.aspx?pgID=951

Yep, more of the crew who doesn't give a damn about AMERICA! In fact, they think they OWN AMERICA!
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jo56
post Feb 7 2007, 02:39 PM
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Blackstone Wins Equity Office Battle

http://money.cnn.com/2007/02/07/news/compa...sion=2007020712
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