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ARLINGTON, VA—Chesapeake Lodging Trust shareholders have approved the previously-announced $2.7 billion stock-and-cash acquisition by Park Hotels & Resorts.
The deal is expected to close on or about Sept. 18, 2019. The deal calls for Chesapeake Lodging Trust's stock to be converted into 0.628 of a share of Park common stock and $11 in cash. Park common stock will continue to trade on the New York Stock Exchange following the acquisition under the symbol "PK."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
