LaSalle Hotel Properties (NYSE: LHO) today confirmed that it received a proposal from Pebblebrook Hotel Trust (NYSE: PEB) on June 11, 2018 to acquire LaSalle in a transaction with consideration of 0.92 common shares of Pebblebrook per common share of LaSalle, with the option for LaSalle shareholders to elect to receive cash up to a maximum of 20% in aggregate of the consideration, subject to pro ration.
Source: New feed