Northeast bureau chief Glen Thompson assisted in the preparationof this article.
NEW YORK CITY-Just to make things clear at the outset, no onerepresenting Grubb & Ellis in the highly publicized acquisitiontalks would state for the record what insiders have confirmed--thatit was indeed CB Richard Ellis who had the firm in its acquisitionsights. But who it was became somewhat of moot point with thereport that talks have been terminated.
Asked if the negotiations broke down over money, Grubb &Ellis CEO Barry Barovick told GlobeSt.com that it wasn't price, itwas the broad discrepancies between the two firms' "visions." Thecomment echoed the official press release, which referred only to"an unrelated third party" and its "unsolicited mergerproposal."
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
