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+--- Thread: RLJ TO AQUIRE FELCOR (/thread-1689.html)
RLJ TO AQUIRE FELCOR - TEAM HARLFORUM - 04-27-2017
RLJ Lodging Trust said on Monday it would buy FelCor Lodging Trust in an all-stock transaction that values FelCor at US$8.54 per share based on the April 21 closing price (a 16.7% premium for FelCor shareholders), making it one of the biggest U.S. lodging real estate investment trusts.
The new combination, which will have a pro-forma market value of US$4.2 billion and an enterprise value of US$7 billion, will own 160 hotels in 26 states and the District of Columbia, across brands including Marriott, Hilton, Hyatt and Wyndham.
The exchange ratio is 0.362 shares of RLJ in exchange for each share of FelCor stock, which results in RLJ’s shareholders owning 71% of the combined entity.