Green Courte Partners Extends Tender Offer for American Land Lease, Inc.
February 06 2009 - 6:30AM
Business Wire
Green Courte Partners, LLC, a Chicago-based private equity
investment firm, today announced that one of its affiliates (such
affiliate is referred to as �Green Courte Partners�) has extended
its previously announced cash tender offer for all of the
outstanding shares of common stock of American Land Lease, Inc.
(NYSE: ANL) until 5:00 p.m., New York City time, on Tuesday,
February 17, 2009, unless further extended. The tender offer was
originally scheduled to expire at 5:00 p.m., New York City time, at
the end of Thursday, February 5, 2009 but certain of the conditions
for the closing of the tender offer remain pending. All other terms
and conditions of the tender offer remain unchanged.
The depositary for the tender offer has advised Green Courte
Partners and ANL that, as of the close of business, New York City
time, on February 5, 2009, a total of 7,480,016 shares of ANL�s
common stock were validly tendered and not withdrawn (which
includes 249,482 shares subject to guaranteed delivery procedures),
representing approximately 93% of ANL�s outstanding common
stock.
ANL stockholders are entitled to receive $14.20 per share in
cash for each share of ANL�s common stock tendered in the tender
offer, subject to the terms and conditions of the tender offer and
applicable withholding taxes, without interest thereon.
ANL stockholders with questions about how to tender their shares
may call Innisfree M&A Incorporated, the Information Agent,
toll-free at 888-750-5834 (banks and brokers may call collect at
212-750-5833).
About Green Courte Partners
Green Courte Partners, LLC is a Chicago-based private equity
real estate investment firm focused primarily on the ownership and
operation of manufactured housing communities, retail and mixed-use
properties, and parking assets. Green Courte Partners, LLC combines
focused investment strategies with a disciplined approach to
transaction execution and asset management with a goal of
generating attractive risk-adjusted returns over a long-term
holding period. For more information visit
www.GreenCourtePartners.com.
About ANL
American Land Lease, Inc. is a Clearwater, Florida-based real
estate investment trust that owns, develops and manages residential
land lease communities primarily serving active adults. With over
10,000 home sites in 30 communities located primarily in Florida,
Arizona and Alabama, ANL is committed to providing affordable,
free-spirited retirement living for active adults. For more
information, visit www.americanlandlease.com.
Additional Information about the Tender Offer and Where to
Find it
This press release is for informational purposes only and is not
an offer to buy or the solicitation of an offer to sell any
securities. The solicitation and the offer to buy shares of ANL
common stock is being made only pursuant to an offer to purchase on
Schedule TO and related materials that Green Courte Partners filed
with the Securities and Exchange Commission (the �SEC�). In
connection with the tender offer, Green Courte Partners filed with
the SEC a tender offer statement and related offer to purchase on
Schedule TO that provides the terms of the tender offer and ANL
filed a solicitation/recommendation statement on Schedule 14D-9
with the SEC. Stockholders are urged to read these documents
carefully and in their entirety because they contain important
information about the tender offer.
The offer to purchase and solicitation/recommendation statement
have been mailed to ANL stockholders who are entitled to receive
such documents. In addition, the tender offer statement and related
offer to purchase and solicitation/recommendation statement as well
as other filings containing information about ANL and the tender
offer are available free of charge at the SEC�s Internet Web site,
www.sec.gov. In addition, investors and security holders may obtain
free copies of the solicitation/recommendation statement as well as
other filings containing information about ANL and the tender offer
that are filed with the SEC by ANL by contacting Shannon E. Smith,
Chief Financial Officer, at (727) 726-8868 or accessing ANL�s
investor information website at www.americanlandlease.com/company
or from Green Courte Partners by contacting James R. Goldman,
Managing Director, Chief Investment Officer, at (847) 582-9400.
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