Second Offer Comes in for ESB Buyout

NEW YORK CITY-A second offer to buy the Empire State Building has come in as Malkin Holdings prepares for an IPO on a REIT that would include the office icon as well as other Midtown properties. The unidentified bidder made a $2.1-billion offer for the landmark office property, following Rubin Schron‘s unsolicited $2-billion takeover bid last week.

“We received last week two unsolicited bids to purchase the Empire State Building, one for $2.0 billion and one for $2.1 billion,” wrote Peter Malkin and Anthony Malkin, Malkin Holdings’ chairman and president, respectively, in a letter to investors filed with the SEC. “We are reviewing the offers and their terms. We consider all matters, including unsolicited offers, consistent with our fiduciary duties, to form a judgment on what action is appropriate. We do not intend to issue a comment until after our review.”