LaSalle Hotel Properties reiterated its rejection of Pebblebrook Hotel Trust, choosing instead to move forward with a possible acquisition by the Blackstone Group. In a regulatory filing, LaSalle disclosed that the Blackstone deal values the company at $4.8 billion. The agreement, which both sides signed last May, is an all-cash transaction that sets the stock price at $33.50. Bloomberg first reported LaSalle’s decision. LaSalle continued to refuse Pebblebrook’s advances, saying that the Maryland-based firm’s revised […]
source https://therealdeal.com/2018/06/18/lasalle-chooses-blackstones-4-8b-bid/
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