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Pebblebrook sweetens offer for LaSalle Hotel

Reuters 

(Reuters) - Pebblebrook Hotel Trust on Monday raised its offer to buy fellow U.S. hotel owner LaSalle Hotel Properties, seeking to scuttle Blackstone Group LP's $3.7 billion deal with the company.Pebblebrook said its latest offer for LaSalle represented an implied price of $37.80 per share, and carried a 13 percent premium to Blackstone's $33.50 offer.Shares of LaSalle, which owns interests in hotels including Park Central San Francisco and Westin Michigan Avenue, were up 1.4 percent at $35.67.LaSalle said its board will review Pebblebrook's proposal, and determine a course of action that is ...

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First Published: Mon, June 11 2018. 20:02 IST
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