NYC Mogul Throws Surprise $2B Bid At Empire State Building

Law360, New York (June 19, 2013, 6:43 PM EDT) -- New York real estate mogul Rubin Schron made a $2 billion cash bid for the Empire State Building on Tuesday in a surprising move that comes just weeks after the iconic building's shareholders approved a controversial plan to put it into a $1 billion publicly traded investment trust.

The offer was made public Wednesday in a letter to an attorney for the Malkin family, which owns the building, from Stephen Meister, an attorney for a group of investors opposed to the owners' plan to roll the building up into a REIT.

The bid is about $300 million less than the building's...

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