Green Courte Partners LLC has elevated its offer for outstanding shares of American Land Lease Inc. to $10 per unit and extended the deadline to participate in the tender offer. The real estate investment trust, which acquired the retirement community specialist this past spring, previously had agreed to a price of $8.468 for each share of Series A cumulative redeemable preferred stock. The more generous price applies to shares previously tendered and not withdrawn. Green Courte, which itself is involved in the ownership and operation of manufactured housing communities, also has pushed back the expiration date for the tender to Oct. 23 from Oct. 8.
From “Green Courte Ups Offer for American Land Lease Shares” Tampa Bay Business Journal (10/09/09)
