Greektown Superholdings Inc. (GRKT.OB) announced that on January 17, 2013 its Board formed a Special Committee of the Board to review acquisition Proposal from Athens Acquisition LLC. The Special Committee’s mandate is to assess Athens’ position and make a recommendation to the Board of Directors on this and other strategic alternatives.
On January 16, 2013, Greektown Superholdings announced that it received a letter from Athens Acquisition LLC, an entity owned by Daniel Gilbert.
In the letter, Athens had stated that it “acquired a small position” in Greektown in mid 2012 and that it “entered into an agreement to purchase a large block of the Company’s shares on December 20, 2012.”Athens had stated that “upon the closing of this transaction, Athens Acquisition is expected to have majority voting control of the Company.”
Athens proposes to acquire the remaining capital stock of Greektown for $81 per share.
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by RTT Staff Writer
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