The offer to purchase all outstanding shares of its common stock was launched on Jan. 24. The tender offer is the first step in an effort that will make company a privately-held concern owned entirely by David H. Rotter and Bernard J. Rotter along with some of their family members.
The company anticipates completing the remaining steps in the going-private transaction during the next several months.
Based on preliminary information received from the depository, Wells Fargo Bank Minnesota, N.A., the Rotter family will own more than 90% of the outstanding shares of the company.
The company filed a request to de-list the stock with the US Securities and Exchange Commission, and trading on the American Stock Exchange was suspended.
Rottlund designs, builds, markets and sells detached single-family homes and attached townhomes and villas. The company has operations in Minneapolis/St. Paul,Des Moines and Tampa.
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