Glass Lewis Recommends Homeinns Shareholders Vote 'FOR' Going-Private Deal

(RTTNews) - Homeinns Hotel Group (HMIN) said that Glass Lewis & Co., LLC has recommended that Homeinns shareholders vote FOR, among other proposals, the proposal to authorize and approve the Company's agreement and plan of merger (the "Merger Agreement"), dated as of December 6, 2015, by and among the Company, BTG Hotels Group (HONGKONG) Holdings Co., Limited ("Holdco"), a wholly owned subsidiary of BTG Hotels (Group) Co., Ltd., a PRC joint stock company that is listed on the Shanghai Stock Exchange ("BTG Hotels"), BTG Hotels Group (CAYMAN) Holding Co., Ltd , a wholly owned subsidiary of Holdco, and solely for the purposes of certain sections thereof, BTG Hotels.

As per the Merger Agreement, Holdco will acquire the Company for cash consideration of US$17.90 in cash per ordinary share or US$35.80 in cash per American depositary share of the Company, each representing two ordinary shares, in each case, without interest and net of any applicable withholding taxes, and Merger Sub will be merged with and into the Company with the Company continuing as the surviving company.

The company's extraordinary general meeting of shareholders (the "EGM") to consider and vote on, among other things, the Merger Agreement, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") and the transactions contemplated thereby, including the Merger, will be held on March 25, 2016.