Piedmont Recommendations

Two people e-mailed me to ask why Piedmont Office Realty discourages you from participating in the MacKenzie tender at $4.00 but didn't comment on Madison's $3.00 tender. I really didn't have an answer except to say that Piedmont Office Realty was paid to do the mailing for the Madison tender.

I then found the 14D filing in which they recommend stockholders reject the $3.00 offer. They recommend against the $4.00 offer. They must like the $4.25 offer for some units more than the lower offers but they haven't issued any opinion. Perhaps that is because the offer is for limited units.

If you check my earlier blog, you will see that http://piedmontofficerealtytender.com/ is offering more than either tender.

Any questions on Piedmont Office Realty, Inland Western, Inland American or Whitestone drop me a note or comment on this blog.