Equity Office Declares First Quarter Series B Preferred Dividend
16 Janeiro 2007 - 8:40PM
Business Wire
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.
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