Support Skift’s Independent JournalismMake a Contribution Now
Strategic Hotels & Resorts Inc., an owner of luxury lodging properties across the U.S., agreed to be bought by affiliates of Blackstone Group LP in a deal valued at $6 billion including debt.
Blackstone offered $14.25 a share in cash, about 13% more than the unaffected intraday trading price on July 23, when Bloomberg reported on a potential transaction for the Chicago-based company.
To contact the reporter on this story: Christine Maurus in New York at email@example.com To contact the editors responsible for this story: Kara Wetzel at firstname.lastname@example.org Andrew Blackman, Chad Thomas
This article was written by Christine Maurus from Bloomberg and was legally licensed through the NewsCred publisher network.