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Blackstone Real Estate Partners and Starwood Capital Group have increased their offer to purchase Extended Stay America to $20.50 per share, $1 per share more than their prior offer. The new offer represents about a 21 percent premium over the stock s closing value on March 12, the last trading day prior to the deal s announcement, according to ESA. ESA has signed an amendment to the previous definitive merger agreement accepting the new offer.
All members of ESA s dual boards one for ESA and one for its paired-share real estate investment trust ESH Hospitality unanimously approved the new offer and recommend that shareholders do as well, according to ESA. Previously, two board members had opposed the initial deal, per ESA s proxy statement filed April 13.
Tarsadia Capital, LLC together with its affiliates, associates and funds it manages (“Tarsadia”), today announced that leading independent proxy advisory firm Institutional Shareholder Services Inc. (“ISS”) has recommended that Extended Stay America, Inc.
NEW YORK, NY / ACCESSWIRE / May 25, 2021 / Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies:Hilton Grand Vacations Inc. (NYSE:HGV) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its merger with Diamond Resorts International, Inc.