Chicago bottom-fisher Sam Zell is going to have to wait a while before finding out whether he gains control of Rockefeller Center.
Zell, who’s made millions by investing in troubled and bankrupt companies, thought it was in the bag when Mitsubishi, owner of an 80 percent interest in the office complex in Midtown Manhattan, threw in the towel in its efforts to restructure a $1.3 billion mortgage.
But Zell, who stubbed his toe earlier this year on an investment he made in the Los Angeles-based Broadway Stores, discovered his bid for the center wasn’t going to go unchallenged.
Investment banker Goldman, Sachs & Co. said it would pay $6.50 a share for the stock, topping the $5.59 Zell’s group offered. The group includes General Electric Co., which is bidding in behalf of its NBC subsidiary, based in Rockefeller Center, and Walt Disney Co.
Wall Street, however, apparently believes the bidding will go higher. Stock in Rockefeller Center Properties Inc. closed unchanged Friday at $7.50 on the New York Stock Exchange.
