WASHINGTON D.C.- Marriott International and Rockledge Hotel Properties said that CBM Holdings LLC and CBM II Holdings LLC, wholly owned subsidiaries of a joint venture between Marriott and Rockledge, are each extending their offers to acquire all outstanding units of limited partnership interest of Courtyard by Marriott Limited Partnership and Courtyard by Marriott II Limited Partnership to 12:00 midnight Eastern Standard time, September 22, 2000.
As a result, holders of Courtyard I and Courtyard II units may tender or withdraw units and submit or revoke consent forms regarding the respective mergers and the amendments to the partnership agreements until that time.
According to Gemisys Corp., the Claims Administrator for the tender offers and consent solicitations, as of September 15, approximately 454 Courtyard I units had voted in favor of the Courtyard I merger, approximately 400 units had voted against, 29 units had abstained, and 267 had not yet voted. Approximately 1187 Courtyard II units had voted in favor of the Courtyard II merger, approximately 21 units had voted against, 29 units had abstained, and 233 had not yet voted.
At that time, approximately 413 Courtyard I units and approximately 1048 Courtyard II units had been tendered and not withdrawn pursuant to the tender offer, representing approximately 36% of the outstanding Courtyard I units and approximately 71% of the Courtyard II units. (9/18/00)
