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http://www.nasdaq.com/symbol/rlh/after-hoursThe company is finally officially up for sale!
Have a takeout/takeunder price it might go for?I only see 10-11.Been a rumor for more than 3 years. Many firms took a look and just one major holder has the inside track to most likely steal this one.
Last time Columbia bid $9.5, but that was before the significant restructuring due to the sale of the property and purchase of the leases.I would hope that the deal gets done at around $12. I would be surprised if it was purchased for less than $10 though. Any buyer with financial strength would immediately repay/refinance the high yield preferred and immediately increase the free cash flow.