This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Columbia Property Trust Announces Final Results Of Its Modified Dutch Auction Tender Offer

Columbia Property Trust, Inc. (NYSE: CXP) (“Columbia” or the “Company”), one of the nation’s largest office REITs, announced today the final results of its modified “Dutch Auction” tender offer to purchase for cash up to $300,000,000 in value of shares of its common stock, par value $0.01 per share (the “Common Stock”) from its stockholders, which expired at 11:59 p.m., New York City time, on November 8, 2013. Morgan Stanley & Co. LLC and Goldman, Sachs & Co. acted as the dealer managers for the tender offer.

Based on the final count by Computershare Trust Company, N.A., the paying agent and depositary for the tender offer, a total of 9,362,488 shares of Common Stock were properly tendered and not properly withdrawn at or below the final purchase price of $25.00 per share, including 5,889,761 shares of Common Stock that were tendered through notice of guaranteed delivery.

In accordance with the terms and conditions of the tender offer, and based on the final count by the paying agent and depositary, Columbia will accept for purchase 9,362,488 shares of Common Stock properly tendered and not properly withdrawn prior to the expiration of the tender offer at a purchase price of $25.00 per share, for an aggregate cost of approximately $234 million, excluding fees and expenses relating to the tender offer.

Payment for the shares of Common Stock accepted for purchase under the tender offer will occur promptly, in accordance with applicable law.

Based on this final count, the 9,362,488 shares of Common Stock to be accepted for purchase in the tender offer represent approximately 7.0% of Columbia’s currently issued and outstanding shares of Common Stock. Upon settlement of the tender offer, Columbia will have approximately 124,830,122 shares of Common Stock outstanding.

About Columbia Property Trust

One of the nation’s largest office REITs, Columbia Property Trust invests in high-quality commercial office properties in primary markets nationwide and has achieved an investment-grade rating from both Moody's and Standard & Poor’s rating services. Currently, the REIT’s $5 billion portfolio consists of 59 operational buildings in 13 states and the District of Columbia, totaling 16.8 million square feet. For information about Columbia Property Trust, visit

Important Information

This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities of the Company. Questions and requests for assistance by retail stockholders may be directed to Georgeson Inc. at (877) 278-9670 (toll free). Questions and requests for assistance by institutional stockholders may be directed to Morgan Stanley & Co. LLC and Goldman, Sachs & Co., the Dealer Managers for the Tender Offer, at: (888) 726-2634 (Morgan Stanley toll free) or (800) 323-5678 (Goldman Sachs toll free).

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.77 -0.25%
FB $100.95 1.20%
GOOG $690.48 1.10%
TSLA $157.23 6.20%
YHOO $27.58 2.00%


Chart of I:DJI
DOW 16,015.99 -11.06 -0.07%
S&P 500 1,842.49 -10.95 -0.59%
NASDAQ 4,254.0360 -29.7170 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs