Article: Starwood Capital Group Proposes Transaction Providing $22.00 Cash Per Share For California Jockey Club and Bay Meadows Operating Company

GREENWICH, Conn., Oct. 8 /PRNewswire/ -- Starwood Capital Group, L.C.C., a private real estate investment firm based in Greenwich, CT, (together with related parties, "Starwood Capital") today announced that it had delivered a letter to the Boards of Directors of California Jockey Club and Bay Meadows Operating Company (Nasdaq: CJ) (the "Company") proposing a transaction that would provide shareholders with $22.00 per share in cash. Starwood Capital's proposal is a revision of an earlier proposal to the Boards of Directors of California Jockey Club and Bay Meadows Operating Company. The shares of California Jockey Club and Bay Meadows Operating Company trade together ...

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