United Capital Corp. Comments on Lodgian Inc. Buyout

United Capital Corp. (NYSE Amex: AFP) today commented on the reported buyout of Lodgian Inc by Lone Star Funds for $2.50 per share. United Capital owns 2,129,798 shares or almost 10 % of the outstanding stock of Lodgian.

In commenting on the announcement, A.F. Petrocelli, Chairman of United Capital Corp., stated, “We are deeply disappointed by the announced price for Lodgian’s shares, which we believe to be inadequate.” Mr. Petrocelli went on to note that “the process employed by Lodgian could not have resulted in the highest and best outcome for its shareholders.”

Certain statements in this press release and other statements made by the Company or its representatives that are not strictly historical facts are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that should be considered as subject to the many risks and uncertainties that exist in the Company's operations and business environment. The forward-looking statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results, performance and/or achievements of the Company to differ materially from any future results, performance or achievements, expressed or implied, by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, and that in light of the significant uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved. The Company also assumes no obligation to publicly update or revise its forward-looking statements or to advise of changes in the assumptions and factors on which they are based. See our 2008 Annual Report on Form 10-K and our current year Form 10-Q’s for a discussion of risk factors that could impact our future financial performance and/or cause actual results to differ significantly from those expressed or implied by such statements.

United Capital Corp. and its subsidiaries own and manage real estate and hotel properties and provide engineered products to industrial and automotive markets worldwide.

Lodgian (AMEX:LGN)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024