Pebblebrook Hotel Trust (PEB) Tops Q1 EPS by 10c, Beats on Revenues
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Pebblebrook Hotel Trust (PEB) Announces Final Merger Proposal for LaSalle Hotel (LHO) Properties
April 24, 2018 8:22 AM EDTPebblebrook Hotel Trust (NYSE: PEB) (Pebblebrook) today released a letter dated April 20, 2018 to the Board of Trustees of LaSalle Hotel Properties (NYSE: LHO) (LaSalle) in which Pebblebrook provided a final merger proposal.
The non-binding proposal for 100% of LaSalles outstanding common shares represented a higher implied price of $32.49 per LaSalle common share1, a premium of 33.2% above LaSalle's unaffected closing price on March 27, 20182 and a significant premium to analyst consensus NAV and consensus price target. The implied price of $32.49 per share is based on an increased fixed exchange ratio of... More
