However, though EOP was set to vote at 8:30 a.m. Monday on theBlackstone offer, theChicago-based REIT's board said in a statementtoday that it now expects to meet on Monday but postpone the voteuntil 11 a.m. Wednesday, "in order to provide shareholders withsufficient time to review and consider the supplemental proxymaterials." The company has posted the supplemental materials toits Web site.

The EOP board said in the statement that it considered a numberof factors in dismissing the higher Vornado offer. The board saidit weighed the all-cash offer by Blackstone, which could close onor about Feb. 9, against Vornado's split offer, which is alsosubject to Vornado's common share price, and a likely three-to-fourmonth timeframe to wait while Vornado's shareholders approve theacquisition and possible SEC review.

The EOP board said because of those negative factors, it ratesthe Vornado offer as risky, and values it at between $54.28 and$54.88 per share, only slightly higher than the Blackstone offer.The board "believes that the Blackstone transaction has certaintyof value and virtual certainty of closing in the immediate future,"according to the statement. A Blackstone spokesman has said becauseof the risk factors, it does not believe itshould submit a higher competing bid .