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The reason is simple: If a private equity firm is the buyer, it will often decide to retain management and let managers invest in the deal.
The company is selling a signature trophy, the biggest building in its portfolio, at a high point in the market, but it will retain management and leasing for the property; Cousins already manages some 12 million feet as a third-party manager.
Ma and the Alibaba leadership team would retain management control.
The new owners plan to "retain management and support management's strategy, business plans and growth initiatives," Ms. Nicholls said.
Mannesmann's shares are widely distributed among shareholders and Mr. Esser would not be able to invoke them in a bid to retain management control of the "new" Vodafone.
Mr. Maxwell said his bid was opposed because he planned to oust management, while the West German company planned to retain management.
Similar(44)
Instead, it allows such information technology work if the company clearly retains management responsibility for the computer system.
Schikaneder retained management of the theatre for less than four years, a period marked by an abortive attempt at collaboration on an opera with Ludwig van Beethoven.
"NASA has found itself in a position of retaining management jobs and an aging work force, while being restricted in its ability to attract, train and retain younger engineers," the study found.
For that reason, Mr. Macklowe, who is more interested in retaining management and a stake in the building than in simply turning it over to a new owner, is doing everything he can to identify new sources of revenue.
"We sold them all," said Paul Marcus, 42, partner and president of the Davis Companies, "retaining management of the Danbury Road and Trumbull buildings, and we are approved to build two office buildings totaling 245,000 square feet on the 20-acre Shelton site".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com