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Month: May 2018

LaSalle Hotel Properties Accepts $4.8 Billion Blackstone Offer

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LaSalle Hotel Properties (NYSE: LHO) said May 21 that it has agreed to be sold to private equity group Blackstone Group LP in an all-cash transaction worth $4.8 billion.

Blackstone will pay $33.50 per share, a premium of about 5 percent above LaSalle’s closing share price of $31.90 on May 18. The transaction is expected to close in the third quarter.