Marriott International, Inc. (MAR/NYSE) said today that it has commenced its tender offer to purchase all outstanding public shares of common stock of ExecuStay Corporation (EXEC/NASDAQ) for $14.00 per share. The offer and withdrawal rights will expire at 12:01 a.m. Eastern Standard Time, on Thursday, February 11, 1999, unless extended by Marriott. The offer is conditioned upon a minimum of two million shares (which is 70% of the shares outstanding) being tendered.
MacKenzie Partners, Inc. is the Information Agent, and First Chicago Trust Company of New York is the Issuing and Paying Agent.
Questions concerning the offer and requests for copies of the Offer to Purchase and related materials should be directed to MacKenzie Partners at 212/929-5500 or 800/322-2885.