Mission West on the Auction Block

Mission West Properties is looking at a possible sale of the company in a transaction valued at about $1.8 billion.The Cupertino, Calif.-based real estate investment trust reported that it is negotiating a deal with a "leading real estate private equity fund" to acquire its common shares at $13.55 per share in cash. The transaction is subject to due diligence by the buyers and also contingent on their arranging financing for the deal, the industrial REIT said. Commenting on the development, the JP Morgan equity REIT research team noted, "With the announcement of negotiations before a definitive agreement has been reached and a price that is below that of the last trade, MSW could be leaving open the door for other potential bidders to come in and take a look." Mission West can be found online at http://www.missionwest.com.