Vornado Ups Offer for Equity Office
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PARAMUS, N.J. -- A group led by Vornado Realty Trust boosted its offer for Equity Office Properties Trust to $23.24 billion, or $56 per share, in cash and stock on Thursday, topping a private equity firm's buyout bid.
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Vodafone recently considered making a full offer for Verizon Communications (NYSE:VZ) in an attempt to break the impasse over the future of its stake in US mobile phone operator Verizon Wireless.
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Online auction The long-rumoured and speculated Initial Public Offering (IPO) by Netsuite, the software as a service (SaaS) specialist, is at last underway. and it looks like it will use a novel way to determine the share price and the volume of shares to be issued.â¦
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The company may be hinting at going public.
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NetSuite has raised the estimated price range for its IPO (initial public offering) to $16 to $19, from the original $13 to $16.The company made the disclosure in a document filed Tuesday with the U.S. Securities and Exchange Commission.The company is&#160;following the lead of Google in conducting an online, auction-style IPO, instead of having underwriters set the price.&#160;The auction opened on Dec. 10&#160;and NetSuite said at the time it expects the stock&#39;s price to be finalized on Wednesday.NetSuite, which sells a line of hosted business software, is putting up 6.2 million shares of common stock. NetSuite expects to net about $98.4 million after expenses from the IPO, it said in the filing. That estimate assumes the stock will price at $17.50.NetSuite has said it plans to use money generated by the IPO to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.Ellison controls about 60 percent of NetSuite&#39;s outstanding stock, which works out to about 31.9 million shares. He plans to put those shares into a &quot;lockbox&quot; limited-liability company, a move that would &quot;effectively eliminate&quot; his voting control and thereby avoid potential conflicts of interest, NetSuite has said.
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Blackstone Group plans to sell some  New York office buildings it is acquiring from Equity Office  Properties Trust  to Macklowe Properties for about $7  billion, a source close to the deal said on Wednesday.
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By Richard Lee, The Stamford Advocate, Conn.  Mar. 8--General Atlantic, a Greenwich-based private equity firm, has added a Virginia online services company to its stable of businesses.
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Vornado Realty Trust  said on Wednesday it has terminated its cash and stock proposal to acquire Equity Office Properties Trust , paving the way for private equity firm Blackstone Group to take over the top U.S. office landlord for $23 billion.
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New offer is 20% above earlier approach.
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Blackstone Group plans to sell some New York office buildings it is acquiring from Equity Office Properties Trust  to Macklowe Properties for about $7 billion, a source close to the deal said on Wednesday.
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United Parcel Service Inc. (UPS.N: Quote, Profile, Research) agreed to buy Menlo Worldwide Forwarding, a unit of CNF Inc. (CNF.N: Quote, Profile, Research) , for $150 million in
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Virgin Media, the British cable company whose largest investor is Richard Branson, said that it had received a takeover proposal.
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Platinum Equity will acquire Covad Communications for about $304 million, making the communications services company the latest technology company to sell to a private equity firm.
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Private equity firm Blackstone Group won control of Equity Office Properties Trust  on Wednesday after a majority of the top U.S. office landlord's shareholders accepted Blackstone's cash bid of $23 billion, and rival bidder Vornado Realty Trust  dropped out.
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Vornado Realty Trust said on Friday it has acquired a 4.3 percent stake in the retailer Sears, Roebuck &amp; Co.. Sears&#39; stock rose as high as $45.
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Vornado Realty Trust  said on Thursday it had raised its takeover offer for Equity Office Properties Trust  to $56 per share, or $23.24 billion, above a rival bid of $54 per share from private equity firm Blackstone Group.
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Package deal: IBM (nyse: IBM - news - people ) added its 14th board member, Michael L. Eskew, chairman and chief executive of United Parcel Service (nyse: UPS - news - people ), on Tuesday.