Deals
Malkins Reject Empire State Building’s Buyout Proposals
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Malkin Holdings LLC, the supervisor of New York’s Empire State Building, is proceeding with a plan to form a publicly traded real estate investment trust after receiving buyout offers for the tower.
The company reviewed the proposals to purchase control of the Empire State Building or its operating lease positions and determined that an initial public offering is in investors’ best interest, according to a regulatory filing today. Lazard Ltd. acted as the Malkins’ independent adviser.