CHICAGO-Two companies have upped their offers in takeover bidsin requests for more time to act. New York City-basedApollo Global Management has increased its offerto acquire Madison, WI-based Great Wolf ResortsInc. to $7 per share, and EquityResidential has raised its offer by$15 million to $1.5billion to buy an interest in Denver-basedArchstone.
Locally based Equity said in a recent statement that it hasreached an agreement with Bank of America andBarclays Bank to extend the deadline for Equity’spurchase offer for 26.5% of Archstone to May 21. In return, Equityhas increased its offer to a level $1.5 billion from $1.485billion.
(While the negotiations drag on, Zell was his ever-pithyself at Thursday's NYU Schack Conference. See our New York Story.)
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