mergers and acquistions
FelCor Lodging Trust Responds to Ashford Hospitality Trust’s Unsolicited Proposal
FelCor | February 21, 2017
Company Has Engaged with AHT Since Last Fall; Unable to Reach Mutually Beneficial Terms Company Responds to Ashford's Director Nominees FelCor Shareholders Need Take No Action at This Time February 21, 2017 11:25 / IRVING, Texas--FelCor Lodging Trust Incorporated (NYSE: FCH) confirmed today that its Board of Directors has received an unsolicited, non-binding and conditional proposal to combine its business with Ashford Hospitality Trust (NYSE: AHT). The proposal, made public by AHT today, follows several months in which FelCor has engaged with AHT in an effort to explore the possibility that a mutually beneficial transaction could be re...
Ashford Hospitality Trust Proposes to Acquire FelCor Lodging Trust
Ashford Hospitality Trust | February 21, 2017
Combined company would result in the third-largest pure-play publicly traded lodging REIT by enterprise value FelCor's Board of Directors has failed to meaningfully engage and provide necessary due diligence information; Ashford Hospitality Trust seeks to conduct constructive dialogue to further explore the significant value creating opportunity FelCor shareholders would experience a dividend increase of over 138% in the combined company DALLAS, Feb. 21, 2017 -- Ashford Hospitality Trust (NYSE: AHT) ("Ashford Trust" or the "Company"), a real estate investment trust focused on investing in the hospitality industry...
U.S. Hotel M&A Answers Private Equity Capital Conundrum
Fitch Ratings | November 23, 2015
Fitch Ratings-New York-23 November 2015: Corporates, or strategic buyers, may participate in more merger and acquisition (M&A) transactions in the U.S. lodging industry if the capital conundrum for private equity (PE) firms persists, Fitch Ratings says. Lower investor demand for high yield bonds and loans caused by recent capital markets volatility, if continued, would increase the cost of debt capital for PE firms, making it more challenging for them to deploy their significant uncalled investment capital, or dry powder. Total PE dry powder was $1.34 trillion as of October 2015, up 12.9% from year-end 2014, according to Preqin. Unc...
