Motel Owner Extends World Services Offer

ABERDEEN, SD-Super 8 Motel Developers Inc. recently began a tender offer to purchase all outstanding shares of common stock of World Services, Inc., at a price of $0.85 per share. World Services, which is a publicly traded stock, says it has no operating assets.

Super 8 Motel Developers owns and operates motels in Delaware, Maryland, Virginia and West Virginia. The company is not affiliated with Super 8 Motels, although it does have a standard franchise agreement with Super 8 Motels, Inc. for each of its motels.

The company wants to buy World Services because it owns about 16% of its outstanding common stock. Super 8 Motel Developers was unsuccessful in previous attempts to buy those shares.

“We are trying to buy at least a majority of the outstanding shares of World Services so that we will be able to control the disposition of those shares of our common stock,” according to a securities filing by Super 8 Motel Developers.

The offer, originally scheduled to expire Oct. 31, has been extended until Dec. 11.