DVL Recommends Rejection of Unsolicited Tender Offer

NEW YORK, Dec. 7, 2011 /PRNewswire/ -- DVL, Inc. (PINK: DVLN) announced today that it is aware of an unsolicited tender offer to purchase shares of DVL stock at a price of $800 per share.  DVL's stock is traded on the over-the-counter market in the Pink Sheets.  

DVL believes that a price of $800 per share represents a substantial discount to the current market price for DVL shares, which shares last traded at $1,050 per share on December 5, 2011 and at $1,100 per share on December 2, 2011. At the time of DVL's 1 for 7,500 share reverse stock split, effective February 7, 2011, its shares were valued at $1,050 per share ($0.14 times 7,500 pre-split shares). 

With respect to the unsolicited tender offer, DVL recommends against stockholders tendering their shares, and urges stockholders to obtain current market quotations for their shares of DVL, to consult with their financial advisors and to exercise caution with respect to the unsolicited tender offer.

After the effective date of DVL's reverse stock split, in both market and privately negotiated transactions, DVL and certain of its insiders acquired shares of DVL at prices of up to $1,100 per share.  DVL is aware that certain of its insiders have been from time to time and are currently in the market to purchase shares of DVL stock at market prices which are greater than $800.

COMPANY	Alan E. Casnoff	or	John Hanlon
CONTACT:	President		The Proxy Advisory Group
	[phone]		[phone]

 

SOURCE DVL, Inc.

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