Replies to post #287 on W2007 Grace Acquisition I, Inc. (fka WGCBP)

[Enterprising Investor]

Looks like "Plan B".

WNT now owns a portfolio of 10 hotels for which it is evaluating various strategic alternatives. Grace no longer owns any hotels but continues to hold a 3% interest in WNT and the $99.8 million of preferred equity interests referred to above. Grace does not expect to commence payment of dividends or to otherwise distribute the net proceeds from the sale transaction, but instead expects to use the net proceeds for general corporate purposes, including satisfaction of liabilities, and to retire outstanding debt.

I see a tender offer in our future.