Is this the end of what’s become one of the biggest buyout battles of the young century?
Probably. Vornado Realty Trust announced on Wednesday morning it has dropped its bid for Equity Office Properties, the nation’s largest office landlord. Blackstone looks poised to win what’s been a months-long slog of one-upmanship.
UPDATE: And now the drama is officially over. Blackstone’s $23 Billion cash buy-out has been approved by the EOP shareholders, and Vornado’s fight is over.
– Tom Acitelli