Securities attorneys at Dunnam & Dunnam are reviewing Strategic Hotels and Resorts Inc (NYSE:BEE)’s buyout deal reported at $14.25 per share. The concerned investors can contact lawyer Mr. Hamilton Lindley for further queries.
This respective probe revolves around the finalized value of the buyout deal. An analyst stated the target at $15.19 per share, and the premium stands at just 4.8%, making the buyout offer as an undervalued deal. The potential shareholder official process will try to get the highest reasonable price to company’s shareholders. Also, the procedure will demand to reveal all the relevant information related to the deal.
Recently, Strategic Hotels reported that Blackstone Real Estate Partners VIII LP gave their nod for the acquisition deal valued at nearly $4 billion. The agreement was termed as the latest measure by the real estate investor entity, which has loosened its muscles lately. As per the announced deal, Blackstone will acquire all outstanding shares of company and membership units of its subsidiary unit, Strategic Hotels Funding LLC. The company stated that including debt, the total value of the deal stands at close to $6 billion.
The expert view
Raymond L. Gellein, the Chief Executive stated that Strategic Hotels’ board thoroughly studied several alternatives in the last few years. This buyout offer from Blackstone is considered as accretive for shareholders. The proposed deal is projected to be completed by the first quarter of next year, depending on stockholders vote to occur in the near term.
In August, Strategic Hotels and Resorts Inc (NYSE:BEE) reported its board was seeking various alternatives including a probable sale. The announcement came after the revelation that Cascade Investment Inc. acquired stake in the investment trust. Expanding its stake to 9.8%, Cascade Investment indicated that it can approach Strategic Hotels for a potential deal or takeover, following the buzz of company exploring a sale.