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Extended Stay America Files Preliminary Proxy Statement and Reiterates Board and Management Support for Acquisition Agreement With Blackstone and Starwood Capital Extended Stay America, Inc.
Transaction Provides Immediate, Certain and Compelling Value to Shareholders
Represents Superior Value to the Continued Execution of Extended Stay’s Strategic Plan on a Time and Risk-Adjusted Basis
Marks Culmination of Thorough Actions to Explore Value-Enhancing Alternatives
CHARLOTTE, N.C., April 13, 2021 (GLOBE NEWSWIRE) Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended Stay” or the “Company”) (NASDAQ: STAY) today filed their preliminary joint proxy statement in connection with the Company’s previously announced definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood