|Bid||31.30 x 1400|
|Ask||32.59 x 1400|
|Day's Range||31.50 - 32.07|
|52 Week Range||29.57 - 37.52|
|PE Ratio (TTM)||16.32|
|Forward Dividend & Yield||2.18 (6.97%)|
|1y Target Est||N/A|
LaSalle Hotel Properties decided to sell itself to private equity firm Blackstone Group LP for $3.7 billion in cash, rejecting a cash-and-stock offer from rival Pebblebrook Hotel Trust.
LaSalle Hotel Properties' (LHO) acquisition by Blackstone, in an all-cash deal, expected to provide a significant and certain premium to shareholders of the former.
BX operates in the capital markets sector, which has characteristics that make it unique to other industries. Understanding these differences is crucial when it comes to putting a value onRead More...
Blackstone Group LP could convert into a corporation from a partnership if KKR & Co.’s planned switch results in a significant increase in valuation over the next year, according to a Credit Suisse analyst note. Blackstone could convert to the new structure as early as 2019, according to analyst Craig Siegenthaler. Blackstone didn’t immediately respond to a request for comment.
Blackstone Group LP could convert into a corporation from a partnership if KKR & Co.’s planned switch results in a significant increase in valuation over the next year, according to a Credit Suisse analyst note. New York-based Blackstone would likely see a more than 50 percent improvement in its valuation and expand its investor base by converting to a C-corp, according to analyst Craig Siegenthaler. The private-equity firm could convert to the new structure as early as 2019, the note said.
(This May 21 story has been corrected to remove wrong reference to La Salle owning 'W' Los Angeles in paragraph 9) By Sanjana Shivdas (Reuters) - LaSalle Hotel Properties (LHO.N) decided to sell itself ...
LaSalle Hotel Properties decided to sell itself to private equity firm Blackstone Group LP for $3.7 billion in cash, rejecting a cash-and-stock offer from rival Pebblebrook Hotel Trust . Blackstone's offer ...
Blackstone Group LP, a large private-equity firm, has reached a deal to buy U.S. luxury hotel owner LaSalle Hotel Properties for about $3.7 billion, the companies said on Monday. Real-estate investment trust LaSalle owns 41 hotels in 11 U.S. markets which are operated by other hotel companies. Blackstone will pay $33.50 a share in cash.
GSO Capital Partners LP, the credit arm of Blackstone Group LP, objects to guitar maker Gibson Brands Inc.’s bankruptcy financing, saying it deprives it of a prepayment penalty while leaving it open to litigation. Gibson filed for bankruptcy earlier this month, with existing bondholders offering to provide financing to help the Nashville-based company get through its chapter 11 proceedings. Some of that cash is intended to pay off secured loans owed to GSO.
Private equity has long served as a vehicle for outsized returns for the wealthiest investors. Most of us see this investment world through the television show Shark Tank. Unfortunately, securities laws prevent the majority of the population from investing like Mr. Wonderful.
LaSalle Hotel Properties (NYSE: LHO) announced it has accepted a $3.7-billion all-cash acquisition offer from Blackstone Group LP (NYSE: BX), spurning a previous offer from Pebblebrook Hotel Trust (NYSE: PEB). The Blackstone deal amounts to a $33.50-per-share offer, lower than Pebblebrook’s offer that valued the company at $35.44.
Blackstone will buy LaSalle Hotel Properties in a busy Monday for merger news. NextEra Energy, Fifth Third Bancorp, Roper Technologies and IHS Markit are other big names involved in M&A.
LaSalle Hotel Properties (NYSE:LHO) shares were soaring Monday as the company has agreed to be acquired by private equity firm Blackstone Group LP (NYSE:BX). The deal tops Pebblebrook Hotel Trust’s (NYSE:PEB) attempt at buying LaSalle Hotel Properties as the real estate investment trust attempted to buy the company for $3.7 billion. The announcement arrived only three days after Blackstone had said that it would sell the last of its Hilton Worldwide Holdings shares, which are worth about $1.3 billion.
Data firm IHS Markit Ltd said on Monday it will buy Ipreo from private equity funds Blackstone Group LP and Goldman Sachs Group Inc for $1.86 billion to expand its financial services operations. The deal is a windfall for the buyout arm of Blackstone and Goldman Sachs, which acquired Ipreo from KKR & Co LP in April 2014 for about $975 million.
Pebblebrook appears not to be taking this news lying down, issuing a statement Monday after the announcement declaring its previous offer to be of higher value to shareholders.
Shares of LaSalle Hotel Properties ran up 5.2% in premarket trade Monday, after the real-estate investment trust agreed to be acquired by Blackstone Group LP in a deal valued at $4.8 billion.
By Sanjana Shivdas (Reuters) - LaSalle Hotel Properties decided to sell itself to private equity firm Blackstone Group LP for $3.7 billion in cash, rejecting a cash-and-stock offer from rival Pebblebrook ...
Shares of LaSalle Hotel Properties ran up 5.2% in premarket trade Monday, after the real estate investment trust agreed to be acquired by Blackstone Group LP in a deal valued at $4.8 billion. Under terms of the deal, Blackstone will pay $33.50 in cash for each LaSalle share outstanding, which is 7.1% above Friday's closing price of $31.29. "We are pleased to have reached this agreement with Blackstone, which we believe is in the best interests of our shareholders and represents the culmination of a thorough review of strategic alternatives," said LaSalle Chief Executive Stuart Scott.
Blackstone Group LP has won the war for LaSalle Hotel Properties, but rival Pebblebrook Hotel Trust isn’t giving up the fight. Luxury-hotel owner LaSalle agreed to be bought by Blackstone for $33.50 a share in cash, or $4.8 billion including debt. After the deal was announced, Pebblebrook revealed it had made a fourth proposal -- which was among the bids rejected by LaSalle, according to people with knowledge of the matter -- that places a higher value on the company, $36.55 a share based on Pebblebrook’s current stock price.
Blackstone (BX) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
has warned investors that it faces a growing risk of significantly higher tax bills because of efforts by US states to end a lucrative tax break that Washington lobbyists have fought hard to preserve. A California proposal to levy state tax on carried interest — the share of investment profits that hedge fund and private equity managers are paid as an incentive to hit higher returns — faces its second key legislative hurdle this week. Under federal law, carried interest is taxed as a capital gain, rather than as personal income, enabling hedge fund and private equity executives to pay lower tax rates on some of their earnings than salaried workers.
IHS Markit is to buy Ipreo, a fast-growing data provider, for $1.86bn from Blackstone and Goldman Sachs as part of a broad reboot for its financial services unit. The UK-based data provider wants to lift organic growth targets at the subsidiary, which provides indices and data for hard-to-value assets and accounts for a third of group turnover. IHS, which competes with Thomson Reuters and Bloomberg, said on Monday it would also sell its struggling MarkitServ business, which processes derivatives trades.
Blackstone Group LP is shedding its investment in hotel group Hilton Worldwide Holdings Inc., closing out the most profitable private-equity investment in real estate ever. The hotel chain said Friday that Blackstone would sell 15.8 million of its shares in privately negotiated transactions. Hilton also said it agreed to buy back another 1.25 million shares from Blackstone.
Private equity giant Blackstone, which took Hilton private in 2007 and took it public again in 2013, has sold its last shares in the hotel giant.