ATLANTA HOTEL BUSINESS. has learned that negotiations between Lodgian and Edgecliff to reach a definitive purchase agreement are “progressing in a positive fashion.” According to Lodgian CEO Robert Cole, “both parties are on the same page.” He said that it is Lodgians intent to sign an agreement with Edgecliffs William Yung early next year. Last week, after conducting due diligence, Edgecliff revised its offer to buy Lodgian from $5 per share to $4.75 per share, which remains higher than Whitehalls original $4.50 per share offer. (12/19/00) Shannon McMullen
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