Plus   Neg

LaSalle Hotel Properties To Review Revised Unsolicited Offer From Pebblebrook

LaSalle Hotel Properties (LHO) confirmed that it received a revised unsolicited proposal from Pebblebrook Hotel Trust (PEB) on April 13, 2018 to acquire LaSalle in a transaction with consideration of 0.8944 common shares of Pebblebrook per common share of LaSalle.

LaSalle shareholders have the option to elect to receive cash up to a maximum of 15 percent in aggregate of the consideration, subject to pro ration.

LaSalle said its board of trustees will carefully review Pebblebrook's revised proposal to determine the course of action that it believes is in the best interest of the company's shareholders. The board of trustees expects to respond to Pebblebrook's proposal in due course.

LaSalle advised its shareholders to take no action at this time, pending the review of the revised proposal by its board of trustees.

Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as financial advisors to LaSalle, while Goodwin Procter LLP and DLA Piper LLP (US) are acting as its legal counsel.

For comments and feedback contact: editorial@rttnews.com

Follow RTT