Empire State Building IPO Nears Full Shareholder Approval

Law360, New York (May 16, 2013, 6:57 PM EDT) -- The owners of the Empire State Building have received nearly all of the votes needed to pass their controversial plan to put the building in a publicly traded real estate trust, they said in a regulatory filing Thursday.

Holders of 79.6 percent of Empire State Building Associates LLC's units have voted in favor of the deal, up from 75 percent as of April 3, according to letter to shareholders filed with the U.S. Securities and Exchange Commission by Malkin Holdings LLC, which controls the tower.

Malkin Holdings Chairman Peter Malkin and President Anthony Malkin need 80 percent approval from ESBA, the...

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