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Pebblebrook Ready To Discuss Buyout Offer Pricing For Lasalle Hotel

by reuters.com posted 1month ago 19 views
* LaSalle up 18.45 pct, Pebblebrook up 6 pct (Updates with statement from LaSalle, share movement): (Reuters) - Pebblebrook Hotel Trust (PEB.N) said on Wednesday it was ready to discuss the pricing of its all-stock offer with fellow U.S. hotel owner LaSalle Hotel Properties Inc (LHO.N), which rejected the bid, saying it undervalues the company. Earlier this month, Pebblebrook offered 0.8655 of its common shares for each of LaSalle’s share, implying an offer price of $29.95 per share. The offer represented a premium of 17.4 percent to LaSalle’s trailing 10-day volume weighted average price as of Tuesday, Pebblebrook said.

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