LaSalle Hotel Properties has reversed course, jettisoning the Blackstone Group’s $4.8 billion offer to acquire the company and instead accepting Pebblebrook Hotel Trust’s bid. The real estate investment trust announced on Wednesday that Pebblebrook’s bid was a “superior proposal” to the one it had accepted from Blackstone. The REIT has notified Blackstone of its plan to cancel the deal, under which the company would’ve acquired LaSalle for $33.50 per share. As part of its agreement […]
source https://therealdeal.com/2018/09/05/the-rose-goes-to-pebblebrook-lasalle-seeks-to-break-off-4-8b-deal-with-blackstone/
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