Interstate Hotels & Resorts Inc. said Thursday that its shareholders have approved a $307 million buyout. Interstate Hotels & Resorts Inc. trades on the “New York Stock Exchange” under the stock symbol “IHR”. For the Latest information regarding “IHR”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Interstate Hotels & Resorts Inc., a lodging real estate investment trust and hotel manager said Thursday that its shareholders have approved a $307 million buyout by Hotel Acquisition Co. The deal, which was announced in December, was formerly approved by Interstate's board.
Hotel Acquisition, a joint venture between a private equity fund Thayer Hotel Investors and Shanghai Jin Jiang International Hotels Co., will purchase all of Interstate's common stock for $2.25 per share. The transaction is expected to close no later than March 18.
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