Blackstone and Starwood Capital Group Confirm Deal to Acquire Extended Stay America (STAY) for $19.50/share in $6 billion deal
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Blackstone and Starwood Capital Group to Acquire Extended Stay America
March 15, 2021 8:00 AM EDTCHARLOTTE, N.C., March 15, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (ESA) and its paired-share REIT, ESH Hospitality, Inc. (ESH and together with ESA, the Company) (NASDAQ: STAY) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group (Starwood Capital) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion.
The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium of 15.1% over the... More
Blackstone and Starwood Capital Group to Acquire Extended Stay America
March 15, 2021 8:00 AM EDTCHARLOTTE, N.C., March 15, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (ESA) and its paired-share REIT, ESH Hospitality, Inc. (ESH and together with ESA, the Company) (NASDAQ: STAY) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group (Starwood Capital) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion.
The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium of 15.1% over the closing... More
