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Tender Offer Results for Inland American

Inland American Real Estate Trust Inc. (Inland American), revealed yesterday the final results of its modified “Dutch auction” tender offer. The non-traded REIT has accepted 60,665,233.238 shares of its common stock at a purchase price of $6.50 per share, for an aggregate cost of approximately $394.3 million.

The results come after Inland American had extended the expiration date of its original offer to buy back $350 million of shares from April 11 to April 25. The Company increased the amount of shares accepted as it was allowed to do in accordance with SEC rules by up to 2%.

DST Systems, Inc., the paying agent and the depositary for the offer, will issue payment for shares validly tendered and accepted for purchase. Shares tendered and not accepted for purchase will be returned to stockholders. Inland American now has approximately 856,488,970.548 shares outstanding.

Tom McGuinness, president of Inland American, commented, “We believed this tender offer provided the immediate liquidity needed by some of our stockholders, while still balancing the Company’s ability to execute on its long-term strategy.” He continued, “We believe our long-term strategy will increase the value of our stock in the future to the benefit of the stockholders that maintained their position in Inland American.”