Empire State Building Owners Reject Sky-High Bids For IPO

Law360, New York (September 9, 2013, 3:23 PM EDT) -- The owners of the Empire State Building have rejected all of the $2 billion-plus bids for the iconic building in favor of continuing with their original plan to roll it up into a real estate investment trust, according to a regulatory document filed Friday.

In the filing, Malkin Holdings LLC put forth a preliminary prospectus for an initial public offering of Class A common stock of the Empire State Realty Trust, effectively announcing that the bidding war for its prime asset, which had garnered offers of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.