News for the Hospitality Executive |
Columbia Pacific Opportunity Fund Offers to Acquire
Red Lion Hotels at $9.50/Share
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Red Lion Hotels Corporation Receives
Unsolicited Indication of Interest
SPOKANE, Wash., June 30, 2008 - Red Lion Hotels Corporation (NYSE:RLH)
(the "Company") today said that it has received an unsolicited, non-binding
and conditional preliminary indication of interest to acquire the Company
from Columbia Pacific Opportunity Fund, LP ("Columbia"). Columbia also
filed a Schedule 13D disclosing the preliminary indication of interest.
The Company said that its Board of Directors, consistent with its fiduciary
duties and in consultation with its financial and legal advisors, will
evaluate the preliminary indication of interest carefully and promptly,
and is committed to pursuing the course of action that it believes will
maximize value for all of the Company's shareholders.
About Red Lion Hotels Corporation:
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Contact:
Red Lion Hotels Corporation
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Also See: | Red Lion Reports a $4.5 million Net Loss for the 1st Qtr 2008, System Wide Occupancy 51.2% Down from Prior Year 53.6% / Hotel Operating Statistics / May 2008 |
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