Super 8 Motel Developers owns and operates motels in Delaware, Maryland, Virginia and West Virginia. The company is not affiliated with Super 8 Motels, although it does have a standard franchise agreement with Super 8 Motels, Inc. for each of its motels.
The company wants to buy World Services because it owns about 16% of its outstanding common stock. Super 8 Motel Developers was unsuccessful in previous attempts to buy those shares.
"We are trying to buy at least a majority of the outstanding shares of World Services so that we will be able to control the disposition of those shares of our common stock," according to a securities filing by Super 8 Motel Developers.
The offer, originally scheduled to expire Oct. 31, has been extended until Dec. 11.
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