Bidding War for Equity Office?

The Blackstone Group may have competition for real estate giant Equity Office, despite already having agreed to what would be the largest leveraged buyout in history. Multiple news reports say that Cerberus, Starwood Capital and Walton Street Capital are seriously considering an offer in excess of $38 billion (including $16 billion in assumed debt), which would top Blackstone’s $36 billion bid. Blackstone has the right to match any superior offer, and also is entitled to a $200 million breakup fee were Equity Office to accept an alternate bid.