(Adds Ashford Inc's comment from statement)
Feb 21 (Reuters) - Lodging real estate investment trust Ashford Hospitality Trust Inc offered to buy FelCor Lodging Trust Inc in a deal valued at about $1.27 billion and launched a proxy battle for the control of the company's board.
Ashford Hospitality, which has a stake of about 4.5 percent in FelCor, said it nominated seven independent directors to the company's board, adding that FelCor had been unwilling to share "usual and customary information."
FelCor said on Tuesday it would review Ashford Hospitality's proposal.
The companies have been in talks since "several months" and that it had formed a transaction committee in December, FelCor said.
However, the parties have not been able to reach mutually agreeable terms, Felcor said.
Ashford Inc, Ashford Hospitality's adviser, said it supported the proposal.
Reuters calculation of the deal value is based on FelCor's 137.5 million shares outstanding as of Sept. 30.
Ashford Hospitality, which invests in upper upscale and full-service hotels, said the combined company would be the second-largest pure-play publicly traded lodging real estate investment trust by room count and the third-largest by enterprise value.
BofA Merrill Lynch is the financial adviser to FelCor.
FelCor's shares closed up 9.7 percent at $7.93 on Tuesday, well below the offer price of $9.27 per share.
(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru; Editing by Maju Samuel)