Hit #98

Jameson Inns (JAMS) is being taken private in a transaction valuing the company at $371 million. The cash offer, of $2.97/share, from JER Partners, represents a premium of 58% over my average cost of $1.88/share.

I own a somewhat larger than usual number of shares, more than what I normally put in a takeover target.

I had mentioned Jameson as a target when La Quinta went private.

Coincidentally, another target I mentioned in the same post, Boykin Lodge also announced today that it is being taken private. I did not own the stock, having decided to wait for a better price.

Other targets mentioned there, Lodgian (LGN), Winston (WXH) and Equity Inns (ENN), still look attractive.

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