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Article: Winston Hotels Agrees to be Acquired by Wilbur Acquisition Holding Company, LLC.
- Article from:
- Business Wire
- Article date:
- February 21, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RALEIGH, N.C. -- Winston Hotels, Inc. (NYSE: WXH), a real estate investment trust and owner of premium limited-service, upscale extended-stay and full-service hotels, today announced that it has entered into a definitive agreement and plan of merger pursuant to which Wilbur Acquisition Holding Company, LLC has agreed to purchase 100% of the outstanding shares of common stock of the company. In the merger, each share of company common stock will be converted into the right to receive $14.10 in cash.
The company's board of directors, upon the recommendation of a special committee of its independent directors, unanimously approved the merger agreement and will ...