Highwoods Rejects Suitor

Highwoods Properties Inc., a real estate investment trust based in Raleigh, N.C., has reported that its board of directors recently rejected an unsolicited proposal from Capital Partners Inc. to acquire the company.Ed Fritsch, president and chief executive officer of Highwoods, said the board rejected the proposal because it believes that remaining independent and executing the REIT's strategic management plan is the best course of action for the company. Highwoods can be found on the Web at http://www.highwoods.com.