LaSalle Hotel Properties (NYSE: LHO) and Pebblebrook Hotel Trust (NYSE: PEB) have agreed to a $5.2 billion merger after former LaSalle suitor Blackstone Group bowed out of a potential bidding war Thursday. It was quick, considering how long it took to get here. LaSalle deemed Pebblebrook’s most recent offer superior Wednesday, kicking off a four-day period in which Blackstone could put in a higher bid. The private equity giant declined to rebid, pocketing a $112 million breakup fee and paving…
from https://www.bizjournals.com/baltimore/news/2018/09/06/pebblebrook-lasalle-agree-to-merge-as-blackstone.html?ana=RSS&s=article_search
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