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.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
