Sonesta International/Hospitality Properties Trust
On November 3, 2011, Sonesta International Hotels Corporation (Nasdaq: SNSTA) announced today that it has entered into a definitive merger agreement pursuant to which Sonesta Acquisition Corporation, will acquire Sonesta for $31.00 per share in cash, or approximately $174 million in total purchase price, including assumed indebtedness and other liabilities.
SAC is an affiliate of Hospitality Properties Trust (NYSE: HPT) of Newton, MA.
Completion of the transaction, which is currently expected to occur in Q112, is subject to approval by Sonesta's common stockholders and certain other customary closing conditions.
Deutsche Bank Securities served as financial advisor to Sonesta, and Goodwin Procter served as legal counsel to Sonesta in connection with the transaction.
SAC is an affiliate of Hospitality Properties Trust (NYSE: HPT) of Newton, MA.
Completion of the transaction, which is currently expected to occur in Q112, is subject to approval by Sonesta's common stockholders and certain other customary closing conditions.
Deutsche Bank Securities served as financial advisor to Sonesta, and Goodwin Procter served as legal counsel to Sonesta in connection with the transaction.
