Sonesta (SNSTA) Gets Shareholder Approval for Merger w/ Hospitality Properties (HPT) Affiliate
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Sonesta International Hotels Corporation (Nasdaq: SNSTA) reports the stockholders of Sonesta adopted the Agreement and Plan of Merger, dated as of November 2, 2011, by and among Sonesta Acquisition Corp., an affiliate of Hospitality Properties Trust (NYSE: HPT), PAC Merger Corp. and Sonesta.
Upon completion of the merger pursuant to the Merger Agreement, the holders of Class A common stock of Sonesta will have the right to receive $31.00 per share, without interest and subject to applicable withholding. Sonesta expects the closing to occur on or before January 31, 2012.
Upon completion of the merger pursuant to the Merger Agreement, the holders of Class A common stock of Sonesta will have the right to receive $31.00 per share, without interest and subject to applicable withholding. Sonesta expects the closing to occur on or before January 31, 2012.
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