Speculation heated up about whether a bidding war was in the works for Equity Office Properties Trust , which agreed in November to be acquired by Blackstone Group for $48.50 a share in cash.
While investment groups including Cerberus Capital Management, Starwood Capital, and Walton Street Capital were initially named as potential rival bidders, CNBC's David Faber heard that Vornado Realty Trust may also present a competing offer.
"It shows that it's a very competitive investment environment," David Rubenstein, co-founder of the Carlyle Group, told CNBC's "Closing Bell." "Private equity people even exceed professional athletes in their willingness and desire to be a winner. The competition we see in this market is extraordinary."
Equity Office agreed in November to be bought by Blackstone for $20 billion in the largest-ever acquisition of a real estate investment trust (REIT). Including debt, Blackstone's deal is
worth about $36 billion.
Competing Bid Expected
Some had expected a competing bid from the very beginning. Blackstone's offer was viewed as being a bit low given Equity Office's size and the huge amount of capital and interest in commerical real estate, CNBC's Diana Olick told "Power Lunch."