Post Continues 'Business as Usual' During Talks

ATLANTA-Officials from locally based Post Properties said it will be “business as usual” as the company continues to seek potential buyers, during a fourth quarter earnings call Tuesday.

Post Properties president and CEO David Stockert said the company does not expect to disclose further details regarding the process until it has been completed. “Our board and management are 100% committed to the process and plan to move it forward and broadly encourage bids,” Stockert said.

On Jan. 23, Post revealed that is entertaining a nearly $2-billion offer from Cadim and Williams Realty Advisors LLC to acquire all of the company’s outstanding common shares at a price range of $44 to $47 per share in cash. Cadim is a division of Caisse de depot et placement du Quebec. Williams is controlled by John A. Williams, former chairman and CEO of Post Properties. The written proposal–which was received unsolicited–states that is subject to a due diligence condition, but is not subject to any financing contingencies.