Beverly Hills-based Associated Hosts Inc. announced that...

Beverly Hills-based Associated Hosts Inc. announced that the company’s board has declined an offer from Harry Shuster, a Beverly Hills investor, and an associate to enter into negotiations to sell the company to Shuster for $11.50 a share. Joseph Bulasky, a member of Associated Host’s board, has agreed to sell his 35% interest in the company to Industrial Equity (Pacific) Ltd. for $11.00 a share. Industrial Equity owns 19% of the company’s outstanding common stock.