ISS Calls on Extended Stay Shareholders to Vote for New Blackstone and Starwood Offer By Reuters

© Reuters.

(Reuters) – Proxy advisor Institutional Shareholder Services has recommended shareholders of Extended Stay America (NASDAQ 🙂 vote for Blackstone Group (NYSE 🙂 and the takeover bid for Starwood Capital, the company said on Friday. hotel operator.

ISS, which previously opposed the $ 6 billion deal on valuation grounds, reversed its position after private equity firms increased their extended stay offer from $ 1 per share to 20 , $ 50 per share earlier this week.

“We are also pleased to note that the transaction is now supported by a number of our major shareholders who had previously expressed concerns,” Extended Stay President Doug Geoga said in a statement.

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. Therefore, the prices may not be exact and may differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.

About William G.

Check Also

A Beginner’s Guide to Cryptocurrency Trading

A cryptocurrency exchange is a platform that allows users to exchange various currencies and cryptocurrency …