Extended Stay America today announced that preliminary results show holders of a majority of its shares have voted in favor of the previously announced amended merger agreement under which the company will be acquired by funds managed by Blackstone and Starwood Capital for $20.50 per paired share in cash.
In Mid-March Extended Stay America signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone and Starwood Capital Group for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion.
Then in early June the offer was amended to $20.50 per paired share in cash.
The results of the vote are preliminary and are subject to certification by the independent inspector of election.
This post was published on 11 June 2021 9:02 pm