This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Greektown Superholdings, Inc. Announces Receipt Of Proposal For Acquisition Of Its Capital Stock

In exchange, we respectfully request that the Board cause the Company to terminate the Rights Agreement that it entered into on December 30, 2012 (the "Rights Agreement"). Although Athens Acquisition's most recent agreement pre-dates the Rights Agreement, and Athens Acquisition is therefore deemed under the Rights Agreement to be the current beneficial owner of shares representing majority voting power, we feel that cooperation between Athens Acquisition and the Board is the best path toward a solution that benefits all stakeholders.

This letter, of course, does not set forth all of the terms and provisions of a transaction. The precise terms of any transaction contemplated herein remain subject to further discussion, and nothing herein should be construed as a binding offer or as imposing any binding obligation on the Company or Athens Acquisition. Please also note that this letter should not be deemed to prejudice whatever rights we may have at law or in equity with respect to the Company (including our rights as a shareholder of the Company).

Athens Acquisition is prepared to expend significant resources to enhance this asset that we recognize is of great importance to the community and local economy. In light of our team's reputation as business operators, investors and advocates for downtown Detroit and our track record in urban casino development, we feel strongly that Athens Acquisition is the right purchaser for the Greektown Casino-Hotel.

About Greektown Superholdings, Inc.

Greektown Superholdings, Inc. operates, through its subsidiaries, the Greektown Casino-Hotel. Located in the heart of Detroit's Greektown Dining and Entertainment District, Greektown Casino-Hotel opened on November 10, 2000. Greektown Casino-Hotel offers such amenities as Asteria, The Fringe, Shotz Sports Bar & Grill, Bistro 555, Brizola and a VIP lounge for players. Greektown Casino-Hotel opened its 400-room hotel tower in February 2009 and became the first Michigan casino to debut a smartphone application. For more information, visit greektowncasinohotel.com.

 

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs