Bay Meadows Operating Company's Response to Proposal of Starwood Capital Group.SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Oct. 9, 1996--In responding to Starwood Capital Group's ("Starwood Capital") announcement of a proposed transaction that would provide shareholders of California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Jockey
In sport, a jockey is one who rides horses in thoroughbred horse racing or steeplechase racing, primarily as a profession. Club ("Cal Jockey") and Bay Meadows Operating Company operating company A business that engages in transactions with outsiders. ("Bay Meadows") with $22 per paired share in cash, Bay Meadows stated it would consult with representatives of Cal Jockey regarding the proposed transaction made by Starwood Capital and would continue to consider and hold discussions with Starwood Capital and other interested parties. F. Jack Liebau, President and Chief Executive Officer of Bay Meadows, said, "The Bay Meadows Board will carefully consider the offer made by Starwood Capital and I am sure that the Board of Cal Jockey will do the same. The shareholders of Bay Meadows can be assured that the Bay Meadows Board has the long-term interest of its shareholders in mind and will recommend what it believes is in their best interest." Bay Meadows operates the Bay Meadows Racecourse on the San Francisco Peninsula The San Francisco Peninsula in California separates the San Francisco Bay from the Pacific Ocean. On its northern tip is the city of San Francisco. On its southern end is part of Santa Clara County, including the cities of Palo Alto, Los Altos, and Mountain View. . Bay Meadows' shares are listed 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. where they are traded with shares of California Jockey as a single unit under a pairing agreement. California Jockey is an equity real estate investment trust whose principal asset is the Bay Meadows Racecourse. The shares of the two companies trade under the name "Bay Meadows" and the Symbol: "CJ". CONTACT: Bay Meadows F. Jack Liebau, 415/573-4505 |
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