An investigation on behalf of investors of LaSalle Hotel Properties (NYSE: LHO) in connection with the proposed takeover was announced and NYSE: LHO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/10/2018 -- An investigation was announced concerning whether the takeover of LaSalle Hotel Properties by Pebblebrook Hotel Trust is unfair to NYSE: LHO stockholders.
Investors who purchased shares of LaSalle Hotel Properties (NYSE: LHO) and currently hold any of those NYSE: LHO shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of LaSalle Hotel Properties breached their fiduciary duties owed to NYSE: LHO investors in connection with the proposed acquisition.
On May 21, 2018, LaSalle Hotel Properties (NYSE: LHO) announced that it has entered into an agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding common shares of beneficial interest of LaSalle Hotel Properties for $33.50 per share in an all-cash transaction valued at $4.8 billion.
On September 6, 2018, Pebblebrook Hotel Trust (NYSE: PEB) and LaSalle Hotel Properties (NYSE: LHO) announced that they have entered into a definitive merger agreement under which Pebblebrook Hotel Trust will acquire 100% of LaSalle's outstanding common shares and that LaSalle Hotel Properties has terminated its previously announced merger agreement with affiliates of The Blackstone Group L.P. (NYSE: BX). Under the terms of the Pebblebrook Hotel Trust and LaSalle Hotel Properties Agreement, for each LaSalle Hotel Properties common share owned, each LaSalle Hotel Properties shareholder will receive either a fixed amount of $37.80 in cash or a fixed exchange ratio of 0.92 Pebblebrook common share.
However, the investigation concerns whether the offer is unfair to NYSE: LHO stockholders. More specifically, the investigation concerns whether the LaSalle Hotel Properties Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of LaSalle Hotel Properties (NYSE: LHO) closed on September 7, 2018, at $34.81 per share.
Those who are current investors in LaSalle Hotel Properties (NYSE: LHO) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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