American Spectrum Opposes Mini Tender Offer.Business Editors IRVINE, Calif.--(BUSINESS WIRE)--Feb. 27, 2003 American Spectrum Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. , Inc. (AMEX AMEX See: American Stock Exchange : AQQ AQQ Annual Qualifications Questionnaire ) announced today that it is recommending to its shareholders that they reject an unsolicited offer from MacKenzie Patterson, Inc. to purchase up to 2.26% of the total outstanding shares of American Spectrum for $3.90 per share. American Spectrum pointed out that the $3.90 being offered is below the current market price of the shares and that the offer provides shareholders with only limited withdrawal rights, unlike offers which may be made under the federal securities laws. American Spectrum Realty is a diversified real estate investment and management company that owns 32 office, office/warehouse, apartment and retail properties aggregating 3.7 million square feet in California, Texas, Arizona, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and the Midwest. Publicly traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. since November 2001, American Spectrum Realty's business plan focuses on expansion of office and office/warehouse property investments in western and southwestern U.S. markets. Certain matters discussed in this release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including the risks and uncertainties of acquiring, owning, operating and disposing of real estate. Such risks and uncertainties are disclosed in the Company's past and current filings with the U.S. Securities and Exchange Commission. |
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