At Last, Blackstone Bags Equity Office

The private equity group, lured by rising rents at high-end commercial properties, snaps up the real estate outfit in a sweetened $23 billion deal

Talk about pricey real estate. The bidding battle for Equity Office Properties Trust ended Feb. 7 with shareholders embracing a $22.9 billion offer from the Blackstone Group hours after Vornado Realty Trust bowed out of the contest.

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