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Prospect News home > News index > List of issuers D > Headlines for Diamond Resorts, LLC > News item |
Diamond Resorts completes tender offer for Sunterra common shares
By Lisa Kerner
Charlotte, N.C., April 26 - Diamond Resorts LLC affiliate DRS Acquisition Corp.'s $16 per share tender offer for Sunterra Corp. expired on April 25, with 18,017,861 shares of Sunterra common stock tendered and not withdrawn.
The transaction is valued at about $700 million, including debt, according to a company news release.
Diamond Resorts and Sunterra, both Las Vegas-based vacation ownership property companies, entered into a merger agreement on March 9, and the tender offer began March 16.
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