Post Properties president and CEO David Stockert said thecompany does not expect to disclose further details regarding theprocess until it has been completed. "Our board and management are100% committed to the process and plan to move it forward andbroadly encourage bids," Stockert said.

On Jan. 23, Post revealed that is entertaining a nearly $2-billionoffer from Cadim and Williams Realty Advisors LLC toacquire all of the company's outstanding common shares at a pricerange of $44 to $47 per share in cash. Cadim is a division ofCaisse de depot et placement du Quebec. Williams is controlled byJohn A. Williams, former chairman and CEO of Post Properties. Thewritten proposal--which was received unsolicited--states that issubject to a due diligence condition, but is not subject to anyfinancing contingencies.

Post is considering the offer in conjunction with a decision byits board of directors to authorize management to initiate a formalprocess to pursue a possible business combination and seekproposals from potentially interested parties. Post has stressedthat the process may or may not result in the sale of thecompany.