Equity Office backs Blackstone buyout approval

NEW YORK Mon Jan 29, 2007 2:05pm GMT

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NEW YORK Jan 29 (Reuters) - Equity Office Properties Trust EOP.N, the top U.S. office landlord, on Monday advised its shareholders to back a proposed buyout from private equity firm Blackstone Group [BG.UL] which values the company at $38.3 billion including debt.

In a letter to shareholders, Equity Office also said it expected the Blackstone offer of $54 per share of the real estate investment trust to close on or about Feb. 8 if approved.