{"id":1003827285,"date":"2008-07-14T12:00:00","date_gmt":"2008-07-14T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/07\/14\/united-capital-receives-acquisition-proposal\/"},"modified":"2022-12-04T10:08:12","modified_gmt":"2022-12-04T18:08:12","slug":"united-capital-receives-acquisition-proposal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/united-capital-receives-acquisition-proposal\/","title":{"rendered":"United Capital Receives Acquisition Proposal"},"content":{"rendered":"<p>United Capital Corp. announced today that its board of directors received a letter from A.F. Petrocelli, its chairman, president &amp; CEO, proposing to acquire all of the company\u2019s outstanding common stock at a cash purchase price of $23 per share, which represents about a 15 percent premium over the average closing price of the company\u2019s common stock on Friday. The total value of the transaction, including contributions of the existing equity of Petrocelli, his family members, and certain senior executives of the company, is expected to exceed $270 million, including the assumption of the company\u2019s outstanding indebtedness.  The company\u2019s hotel operations business consists of three hotels located in the United States, while the firm also has an engineered products division, according to the New York Times.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>United Capital Corp. announced today that its board of directors received a letter from A.F. Petrocelli, its chairman, president &amp; CEO, proposing to acquire all of the company\u2019s outstanding common stock at a cash purchase price of $23 per share, which represents about a 15 percent premium over the average closing price of the company\u2019s&hellip;<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003827285","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>United Capital Receives Acquisition Proposal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/united-capital-receives-acquisition-proposal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"United Capital Receives Acquisition Proposal\" \/>\n<meta property=\"og:description\" content=\"United Capital Corp. announced today that its board of directors received a letter from A.F. 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