Thank you for sharing!

Your article was successfully shared with the contacts you provided.
A LaSalle Hotel holding

BETHESDA, MD–Pebblebrook Hotel Trust sent the Board of Directors of LaSalle Hotel Properties a reminder and a request: it is interested in a combination between the two hotel REITs and it wants the LaSalle Board reevaluate its proposal “given the current facts and circumstances” and determine it to be “Superior.”

Pebblebrook noted that LaSalle has neither filed a definitive proxy nor set a meeting date to put the deal to a vote. The reason, as Pebblebrook strongly implies, is because LaSalle shareholders don’t want the proposed Blackstone acquisition. “It is absolutely clear that LaSalle shareholders will not approve LaSalle’s merger with Blackstone,” Pebblebrook said in a letter to LaSalle’s Board. “We strongly believe that LaSalle shareholders will readily approve a strategic combination of our two companies on the terms set forth in our offer, if you give them a chance to do so.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

More from this author

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.