Potential third bidder sends L.A. landlord's shares up

02/26/2008 | Los Angeles Times (tiered subscription model)

Speculation that buyers are bidding for Maguire Properties Inc. drove share prices of the biggest office landlord in downtown Los Angeles up 8.6% on Friday. Investors have been calling for Chairman and Chief Executive Robert Maguire to step down or sell the company, which has high debt. "What appears to be a third bidder makes this much more of a competitive situation," said analyst Craig Silvers, president of Bricks & Mortar Capital.

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