Inland American Real Estate Trust, Inc. Announces Final Results of its Modified Dutch Auction Tender Offer
Oak Brook, Ill. May 1, 2014 -- Inland American Real Estate Trust, Inc. (the “Company”) today announced the final results of its modified “Dutch Auction” tender offer for the purchase of up to $350 million in value of shares of its common stock (the “Offer”), which expired at 5:00 p.m., Eastern Time, on April 25, 2014.
The Company has accepted for purchase 60,665,233.238 shares of its common stock at a purchase price (without brokerage commissions) of $6.50 per share, for an aggregate cost of approximately $394.3 million, excluding fees and expenses relating to the Offer and paid by the Company. The tendering stockholders also received monthly distributions in respect of their shares during the time they were stockholders. The 60,665,233.238 shares accepted for purchase in the Offer represent approximately 6.61% of the Company’s currently issued and outstanding shares of common stock. Click here for the full release.
Inland American Real Estate Trust, Inc. Reaches Important Milestone – Signs Agreements to Become Self-Managed
Oak Brook, Illinois –March 13, 2014 – Inland American Real Estate Trust, Inc. (the “REIT,” “we,” “our” or “Inland American”) today announced that functions previously performed by its business manager are now being performed by the REIT.The REIT and its business manager, Inland American Business Manager & Advisor, Inc., agreed to terminate the management agreement, and the REIT hired all of its business manager’s employees and acquired the assets of its business manager necessary to perform the day-to-day operations that its business manager previously provided on its behalf, for no fee, thus becoming self-managed. Read More
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