Red Lion Hotels Corporation (NYSE:RLH) said that it is working with its investment banking firm JMP Securities to assist the Board of Directors in evaluating strategic options for maximizing shareholder value for the Company.
As part of the Company's effort to maximize value for all shareholders, a representative of the Company is communicating with a representative of Columbia Pacific Opportunity Fund, LP ("Columbia") concerning Columbia's unsolicited, non-binding and conditional preliminary indication of interest to acquire the Company. The Company is prepared to grant Columbia's request for access to nonpublic information concerning the Company on a non-exclusive basis, subject to Columbia entering into a confidentiality agreement in customary form.
