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Proxy adviser Institutional Shareholder Services has recommended shareholders of Extended Stay America (STAY.O) to vote for Blackstone Group (BX.N) and Starwood Capital s raised takeover offer, the hotel operator said on Friday.
ISS, which previously opposed the $6 billion deal on valuation grounds, has reversed its stance after the private equity firms increased their offer for Extended Stay by $1 per share to $20.50 per share earlier this week. read more We are also pleased to note that the transaction is now supported by a number of our large shareholders who had previously expressed concerns, Extended Stay Chairman Doug Geoga said in a statement.
ISS Recommends Extended Stay America Shareholders Vote for the Amended Transaction With Blackstone and Starwood Capital forextv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forextv.com Daily Mail and Mail on Sunday newspapers.
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
Blackstone and Starwood Capital Group to Acquire Extended Stay America hospitalitytech.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hospitalitytech.com Daily Mail and Mail on Sunday newspapers.