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Founder extends tender offer

Monday, May 2, 2005 | 10:50 a.m.

Michael Shustek, founder and chief executive of Las Vegas-based lender Vestin Group Inc., said this morning that he is extending until May 10 his tender offer to buy the outstanding shares of the company he does not already own.

Shustek has offered to purchase the stock for $2.85 a share. The original offer was scheduled to expire today.

When the original offer was made there were 2.5 million Vestin shares outstanding, of which Shustek owned 2.1 million, or 81 percent, company sources said.

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