Caterpillar and Prime Group Realty Trust Among Potential Sellers and Buyers in High-Stakes Industry Deals

Strategic Insights -

Caterpillar Inc., a leading heavy equipment manufacturer, is reportedly eyeing the German diesel engine maker MTU Friedrichshafen, according to a recent report in the Chicago-based industry newsletter Stark's Component Ledger. Meanwhile, Prime Group Realty Trust, a Chicago-based real estate firm, is considering the sale of its 975,000-square-foot office complex, Continental Towers, in Rolling Meadows. These high-stakes industry deals highlight the ongoing mergers and acquisitions activity in the manufacturing and real estate sectors.

Key Takeaways:

  • Caterpillar Inc. is reportedly interested in acquiring German diesel engine maker MTU Friedrichshafen, with MTU being owned by DaimlerChrysler.
  • MTU Friedrichshafen produces engines for trains, boats, and military vehicles.
  • Prime Group Realty Trust is considering the sale of Continental Towers, a 975,000-square-foot office complex in Rolling Meadows, with the property being 83% leased and potentially valued at up to $200 million.
  • The acquisition process for Continental Towers is being handled by real estate brokerage Cushman & Wakefield.
  • Bob Tita, the owner of Continental Towers, has no comment on the potential sale.
  • Alby Gallun and David Kolata of the Citizens Utility Board are supporting a coalition of consumer groups and unions in launching TV ads opposing Commonwealth Edison's proposed rate hike.

Statistics:

  • MTU Friedrichshafen's engine production includes trains, boats, and military vehicles.
  • Continental Towers is a 975,000-square-foot office complex located in Rolling Meadows.
  • The property is 83% leased and may be valued at up to $200 million.
  • The Citizens Utility Board's coalition has launched TV ads opposing Commonwealth Edison's proposed rate hike, which may increase electricity rates by 25% starting in 2007.

Sources:

Source 1: Stark's Component Ledger

Source 2: Chicago Busines.com, September 27

Source 3: Stark's Component Ledger (no date)

Source 4: Stark's Component Ledger

Source 5: Stark's Component Ledger