WASHINGTON, D.C. Marriott International and Rockledge Hotel Properties announced today that the unitholders of Courtyard by Marriott II Limited Partnership have overwhelmingly approved the merger and the amendments to the Courtyard II partnership agreement described by the Purchase Offer and Consent Solicitation previously sent to unitholders.
More than 80% of the Courtyard II units eligible to vote, voted in favor of the merger and the amendments to the partnership agreement. The fairness of the Courtyard II settlement was also approved by the court at the hearing on Thursday, September 28, 2000. The Courtyard II settlement remains contingent on, among other things, consummation of the settlement relating to the Courtyard by Marriott Limited Partnership. (9/29/00)
CBM II Holdings, LLC, a wholly owned subsidiary of a joint venture between Marriott International and Rockledge Hotel Properties is also extending its offer to acquire all outstanding units of limited partnership interest of Courtyard II to 5 p.m., New York City time, on Monday, October 16, 2000. The offer was previously scheduled to expire at midnight on Friday, September 29, 2000. The unitholders approval of the merger and each of the amendments to the partnership agreement satisfies one of the few remaining conditions to the tender offer and merger. (10/2/00)