An investigation on behalf of investors of LaSalle Hotel Properties (NYSE: LHO) in connection with the proposed takeover was announced and NYSE: LHO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/30/2018 -- An investigation on behalf of investors, who currently hold shares of LaSalle Hotel Properties (NYSE: LHO), was announced concerning whether the takeover of LaSalle Hotel Properties is unfair to NYSE: LHO stockholders.
Investors who purchased shares of LaSalle Hotel Properties (NYSE: LHO) and currently hold any of those NYSE: LHO shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of LaSalle Hotel Properties breached their fiduciary duties owed to NYSE: LHO investors in connection with the proposed acquisition.
On May 21, 2018, LaSalle Hotel Properties (NYSE: LHO) announced that it has entered into an agreement with affiliates of Blackstone Real Estate Partners VIII, under which Blackstone will acquire all outstanding common shares of beneficial interest of LaSalle Hotel Properties for $33.50 per share in an all-cash transaction valued at $4.8 billion.
However, given that at least one analyst has set the high target price for NYSE:LHO shares at $34.50 per share, the investigation concerns whether the offer is unfair to NYSE: LHO stockholders. More specifically, the investigation concerns whether the LaSalle Hotel Properties Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of LaSalle Hotel Properties (NYSE: LHO) closed on May 29, 2018, at $33.88 per share.
Those who are current investors in LaSalle Hotel Properties (NYSE: LHO) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com