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UPDATE: MeriStar Stockholders Approve Merger

BETHESDA, MD-Stockholders of MeriStar Hospitality Corp. sign off on the merger of the lodging company with and into Alcor Acquisition, an affiliate of the Blackstone Group. The merger is scheduled to close next week.

By Barbra Murray | Updated on April 27, 2006

BETHESDA, MD-Having conducted a special meeting, MeriStar Hospitality Corp. stockholders gave their approval for MeriStar to merge with and into Alcor Acquisition LLC. Alcor is an affiliate of private investment and advisory firm the Blackstone Group.

Nearly 99% of the shareholders voting at the meeting signed off on the merger; a figure representing approximately 81% of the total number of MeriStar common stock. As per the specifications of the merger agreement, holders of MeriStar common stock and units of limited partnership interest in MeriStar Hospitality Operating Partnership LP will have the option to exchange those holdings for $10.45 in cash per unit.

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