Janus Hotels to Go Private

Janus Hotels and Resorts, Boca Raton, Fla., and Janus Acquisitions have announced an agreement under which the latter will acquire Janus Hotels and take the company private.The acquisition is to be carried out via a merger under which shareholders in Janus Hotels -- other than Janus Acquisitions, whose shareholders currently own or control about 70.4% of the stock in the hotel company -- would receive $0.65 per share of common stock held, the companies said. "This transaction represents an important step in the evolution of Janus," said Louis S. Beck, chairman and chief executive officer of Janus Hotels. "By becoming a private company, Janus will significantly reduce its administrative costs and eliminate filing requirements associated with being a public company. This will allow us to concentrate on core business strategy." The hotel company can be found online at http://www.janushotels.com.