New Offer Made for Hotel Investors: A...
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New Offer Made for Hotel Investors: A group led by New York investor Leonard M. Ross, who has stalked Hotel Investors Trust for the past year, has made an offer to acquire the Los Angeles-based hotel owner and operator. The proposal by Ross, who owns 9.8% of the paired stock of Hotel Investors Trust and Hotels Investors Corp., calls for holders of the paired shares to receive $1.25 for each share, plus stock in a new company formed to hold Hotel Investors’ Bourbon Street, King 8 and Gambling Hall Nevada hotels.
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