Lodgian to be Acquired by Lone Star Funds
Lodgian, Inc. (NYSE Alternext US: LGN), one of the nation’s largest independent hotel owners and operators, today announced it has entered into a definitive agreement to be acquired by an affiliate of Lone Star Funds (“Lone Star”), in a transaction valued at approximately $270 million, including assumed debt.
Under the terms of the agreement, Lone Star will acquire all of the outstanding common stock of Lodgian for $2.50 per share in an all-cash transaction. The price represents a premium of approximately 67.2 percent over Lodgian’s average closing share price during the trading period of one calendar month prior to January 15, 2010 and 64.3 percent over Lodgian’s average closing share price during the trading period of six calendar months prior to January 15, 2010.
Lodgian’s Board of Directors has unanimously approved the merger agreement and has recommended approval of the transaction by Lodgian shareholders. [Read the full article]
EnterpriseDB, the enterprise Postgres company, and PostgreSQL co-founder Bruce Momjian today issued the following statements regarding the EU committee’s decision to approve Oracle’s acquisition of Sun, which includes ownership of the MySQL open source database project.
As part of the official decision, the European Commission ruled that according to its investigation, many database users consider PostgreSQL to be a “credible alternative” to MySQL. Many leaders of the PostgreSQL community and the leading commercial backer of PostgreSQL, EnterpriseDB, agree that PostgreSQL is a “credible alternative” to MySQL, but wanted to clarify and build upon this statement.
“This decision simply further supports the fact that Postgres is the only real choice for organizations looking to deploy an open source database that is backed by a truly independent community,” said Ed Boyajian, president and CEO of EnterpriseDB, the enterprise Postgres company. [Read the full article]
Entertainment Properties Trust (NYSE:EPR – News) announced today that its wholly owned subsidiary, Education Capital Solutions, has completed an additional investment with Imagine Schools, Inc., one of the leading operators of public charter schools in the country. The $48 million transaction completes the $200 million in acquisitions contemplated by the option agreement entered into with Imagine Schools in 2007.
This transaction added five new schools at a cost of approximately $44 million, and EPR committed to provide approximately $4 million in expansion capital for two schools. The new schools contain over 357,000 square feet of educational space and have an enrollment in excess of 2,600 students. All of the Imagine schools owned by EPR, including those in this tranche, are governed by a triple-net master lease with a 25 year primary term. [Read the full article]