PITTSBURGH— Shaner Hotel Group has extended the expiration date of its cash tender offer to purchase 2,465,332 shares of Class A common stock of Interstate Hotels Corp. for $3 per share. Originally set to expire on May 10, the tender offer will now expire at 5 p.m. EDT, on Friday, May 31, unless Shaner further extends the offer. Shaner currently owns 333,500 Class A shares— approximately 6.08% of the outstanding shares. The completion of the tender offer would result in Shaner owning approximately 51% of Interstates Class A common stock. N.S. Taylor & Associates, Inc., of Dover-Foxcroft, ME, is acting as the information agent for the offer. Shaner specializes in the acquisition, refurbishment, repositioning, development and long-term ownership of full-service hotels, and owns 22 hotels, representing 10 different hotel brands in 15 states. Formed in 1983, Shaner is headquartered in State College, PA.
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