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Blackstone Is Said To Decide Against Raising Offer For Lasalle | National Real Estate Investor

by nreionline.com posted 11months ago 63 views
Blackstone will walk away with a $112 million breakup fee if LaSalle reaches an agreement with Pebblebrook. : (Bloomberg)—Blackstone Group LP doesn’t plan to raise its offer for LaSalle Hotel Properties, according to a person with knowledge of the matter, paving the way for the luxury-hotel company to complete a deal with competing suitor Pebblebrook Hotel Trust. The latest version of Pebblebrook’s bid, from last week, may lead to a superior proposal to an agreement reached with Blackstone, a determination made unanimously by LaSalle’s board, the company said in a statement Monday.

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