Equity Office (NYSE:EOP)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Equity Office Charts. Click Here for more Equity Office Charts.](/p.php?pid=staticchart&s=NY%5EEOP&p=8&t=15)
Equity Office Properties Trust (NYSE: EOP) today announced that its
Board of Trustees declared the first quarter dividend for EOP’s
Series B preferred shares of beneficial interest.
The 5.25% Series B Convertible Cumulative Redeemable Preferred Shares of
beneficial interest dividend of $0.65625 per share will be paid on
Thursday, February 15, 2007, to shareholders of record as of Thursday,
February 1, 2007.
As previously announced, Equity Office Properties Trust is a party to an
Agreement and Plan of Merger, providing, among other things, for the
merger of Equity Office Properties Trust into a subsidiary of an
affiliate of The Blackstone Group. A special meeting of the shareholders
of Equity Office Properties Trust is scheduled on February 5, 2007 to
vote on the merger. Assuming the shareholders approve the merger and
assuming the other closing conditions are satisfied or waived, it is
anticipated that the merger will become effective as soon as practicable
following the special meeting and prior to the February 15, 2007 payment
date.
Holders of Equity Office Properties Trust Series B preferred shares have
the right to convert their Series B preferred shares into Equity Office
Properties Trust common shares as described in the proxy statement
relating to the special meeting of shareholders of Equity Office
Properties Trust which was mailed to shareholders on or about January 2,
2007. Under the terms of the Series B preferred shares, shareholders who
elect to convert their Series B preferred shares following the close of
business on the record date of February 1, 2007 and prior to the payment
date of February 15, 2007 will be required to pay, as part of their
conversion request, an amount equal to the $0.65625 per share
distribution payable with respect to such shares. Such converting
holders who held their shares on the record date would then be entitled
to receive the $0.65625 per share distribution payable on such shares on
the February 15, 2007 payment date. Equity Office Properties Trust
Series B preferred shares may not be converted into Equity Office
Properties Trust common shares following the merger.
Equity Office, operating through its various subsidiaries and
affiliates, is the largest publicly traded owner and manager of office
properties in the United States by square footage. At September 30,
2006, Equity Office had a national office portfolio comprised of whole
or partial interests in 585 office buildings located in 16 states and
the District of Columbia. As of that date, Equity Office had an
ownership presence in 24 Metropolitan Statistical Areas (MSAs) and in
100 submarkets, enabling it to provide a wide range of office solutions
for local, regional and national customers.
EOP Operating Limited Partnership is a Delaware limited partnership
through which Equity Office conducts substantially all of its business
and owns, either directly or indirectly through subsidiaries,
substantially all of its assets.
Forward Looking Statements
This press release contains certain forward-looking statements based on
current Equity Office management expectations. Those forward-looking
statements include all statements other than those made solely with
respect to historical fact. Numerous risks, uncertainties and other
factors may cause actual results, performance or transactions of Equity
Office and its subsidiaries to differ materially from those expressed in
any forward-looking statements. These factors include, but are not
limited to: (1) the failure to satisfy the conditions to completion of
the proposed mergers with affiliates of The Blackstone Group, including
the receipt of the required shareholder approval; (2) the failure to
obtain the necessary financing arrangements set forth in the commitment
letters received by Blackhawk Parent LLC (an affiliate of The Blackstone
Group) in connection with the proposed mergers and the actual terms of
such financings; (3) the failure of the proposed mergers to close for
any other reason; (4) the occurrence of any effect, event, development
or change that could give rise to the termination of the merger
agreement; (5) the outcome of the legal proceedings that have been, or
may be, instituted against Equity Office and others following the
announcement of the proposed mergers; (6) the risks that the proposed
transactions disrupt current plans and operations including potential
difficulties in employee retention; (7) the amount of the costs, fees,
expenses and charges related to the proposed mergers; and (8) the
substantial indebtedness that will need to be incurred to finance
consummation of the proposed mergers and related transactions, including
the tender offers and consent solicitations and other refinancings of
Equity Office and its subsidiaries; and other risks that are set forth
in the "Risk Factors," "Legal Proceedings" and "Management Discussion
and Analysis of Results of Operations and Financial Condition" sections
of Equity Office's and EOP Operating Limited Partnership's filings with
the Securities and Exchange Commission ("SEC"). Many of the factors that
will determine the outcome of the subject matter of this press release
are beyond Equity Office's ability to control or predict. Equity Office
undertakes no obligation to revise or update any forward-looking
statements, or to make any other forward-looking statements, whether as
a result of new information, future events or otherwise.
Additional Information About the Mergers and Where to Find It
In connection with proposed merger transactions involving Equity Office
and EOP Operating Limited Partnership and affiliates of The Blackstone
Group, Equity Office filed a definitive proxy statement with the SEC and
is furnishing the definitive proxy statement to Equity Office’s
shareholders. SHAREHOLDERS ARE URGED TO READ CAREFULLY THE PROXY
STATEMENT BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT THE PROPOSED
MERGER TRANSACTIONS. Shareholders can obtain the proxy statement and all
other relevant documents filed by Equity Office with the SEC free of
charge at the SEC’s website at www.sec.gov
or from Equity Office Properties Trust, Investor Relations at Two North
Riverside Plaza, Suite 2100, Chicago, Illinois, 60606, (800) 692-5304 or
at www.equityoffice.com. The
contents of the Equity Office website are not made part of this press
release.
Equity Office and its trustees and officers and other members of
management and employees may be deemed to be participants in the
solicitation of proxies in respect to the proposed merger transactions.
Information about Equity Office and its trustees and executive officers,
and their ownership of Equity Office's securities, is set forth in the
proxy statement relating to the proposed merger transactions described
above.