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Prospect News home > News index > List of issuers S > Headlines for Sunterra Corp. > News item
Published on 4/26/2007 in the Prospect News Special Situations Daily.

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 expired on April 25, with 18,017,861 shares of Sunterra common stock tendered and not withdrawn.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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