Allied Holdings, a holding company, agreed to acquire Allied Hotel Properties, a firm involved in the acquisition, holding, development and management of hotels and real estate, for $30m. “We are pleased to have entered into a definitive agreement that will result in the privatization of the company. The transaction, should it receive all required approvals, provides our Minority Shareholders an attractive valuation and significant premium to the current trading price of the company’s Shares. After careful consideration, the Special Committee and the Board unanimously concluded that the agreement is fair to Allied’s shareholders and is in the best interests of the ompany," Peter Y.L. Eng, Allied CEO.