Diamond Resorts Proposes All-Cash Acquisition of Bluegreen for $6.25 per Share

Diamond Resorts Corporation today announced that it has made a proposal to the Bluegreen Corporation BXG Board of Directors offering to acquire all the outstanding shares of Bluegreen common stock for $6.25 per share, representing a total equity value of approximately $197 million. Diamond Resorts' proposal is an all-cash offer and represents an 18 percent premium above the closing price of Bluegreen's common stock on June 15, 2012. Importantly, Diamond Resorts' offer represents a 17 percent premium over the all-stock offer proposed by BFC Financial BFCF.