Keyword: Pebblebrook Hotel Trust
With the planned acquisition of LaSalle imminent, Pebblebrook is looking to offload as much as $1 billion in assets.
LaSalle’s board of trustees decided that Pebblebrook’s offer constituted a "superior proposal" as defined in the Blackstone merger agreement.
With just over two weeks to go before LaSalle Hotel Properties votes on an acquisition offer from Blackstone, Pebblebrook Hotel Trust has upped the ante again.
If LaSalle's board of trustees considers Pebblestone's latest offer to be a superior proposal, the Blackstone agreement could be in jeopardy.
Blackstone has agreed to buy REIT LaSalle Hotel Properties in an all-cash deal valued at $4.8 billion, or $33.50 per share.
Is there a correlation between the stock performance of hotel C-corps and returns for hotel owners? Maybe—maybe not.
If LaSalle ends up accepting Pebblebrook's revised proposal, it may come down to one CEO conceding to the other. But is private equity in play?
Pebblebrook claimed that the two companies combined would form the second-largest REIT in the country.
By the time the game kicks off on Feb. 4, Airbnb will have increased its host supply in the Minneapolis/St. Paul area from 1,000 rooms to 5,500 in one year.