Pebblebrook Hotel Trust Releases Letters to LaSalle Hotel Properties Proposing Merger
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Lasalle Hotel Properties (LHO) Rejects Unsolicited Proposal from Pebblebrook Hotel Trust (PEB)
March 28, 2018 11:37 AM EDTLaSalle Hotel Properties (NYSE: LHO) (LaSalle or the Company) today confirmed that its Board of Trustees (the Board) unanimously rejected an unsolicited proposal received on March 6, 2018 from Pebblebrook Hotel Trust (NYSE: PEB) (Pebblebrook) to acquire all outstanding shares of LaSalle in an all-stock transaction with consideration of 0.8655 common shares of Pebblebrook per common share of LaSalle.
In consultation with its financial and legal advisors, the Board thoroughly analyzed the proposal and concluded that it is insufficient in both price and mix of consideration and is not in the best interests of the... More
