Marriott International and Rockledge Hotel Properties Extend Tender Offer and Consent Solicitation Periods for Courtyard by Marriott and Courtyard by Marriott II Limited Partnerships
WASHINGTON, Sept. 18 / Marriott International, Inc. MAR and Rockledge Hotel Properties, Inc. announced today that CBM I Holdings LLC and CBM II Holdings LLC, wholly owned subsidiaries of a joint venture between Marriott International and Rockledge Hotel Properties, are each extending their respective offers to acquire all outstanding units of limited partnership interest of Courtyard by Marriott Limited Partnership ("Courtyard I") and Courtyard...
According to Gemisys Corporation, the Claims Administrator for the tender offers and consent solicitations, as of 12:00 midnight, New York City time, on Friday, September 15, (i) approximately 454 Courtyard I units had voted in favor of the Courtyard I merger, approximately 400 units had voted against, 29 units had abstained, and 267 had not yet voted, and (ii) approximately 1187 Courtyard II units had voted in favor of the Courtyard II merger, approximately 21 units had voted against, 29 units had abstained, and 233 had not yet voted. At that time, approximately 413 Courtyard I units and approximately 1048 Courtyard II units had been tendered and not withdrawn pursuant to the tender offer, representing approximately 36% of the outstanding Courtyard I units and approximately 71% of the Courtyard II units.
As a consequence of the extension of the expiration date, holders of Courtyard I and Courtyard II units may tender or withdraw units and submit or revoke consent forms regarding the respective mergers and the amendments to the partnership agreements, until 12:00 midnight, New York City time, on Friday, September 22, 2000, unless the offer and consent solicitation periods are further extended.
MARRIOTT INTERNATIONAL, INC.
ROCKLEDGE HOTEL PROPERTIES INC is a Delaware corporation formed in connection with Host Marriott Corporation's
COURTYARD BY MARRIOTT LIMITED PARTNERSHIP is a Delaware limited partnership formed in 1986 which owns 50 Courtyard by Marriott hotels located throughout the United States which are managed by a subsidiary of Marriott International, Inc.
COURTYARD BY MARRIOTT II LIMITED PARTNERSHIP is a Delaware limited partnership formed in 1987 which owns 70 Courtyard by Marriott hotels located throughout the United States which are managed by a subsidiary of Marriott International, Inc.