Chicago-based Hometown, which is privately held, plans to acquire the Greenwood Village-based real estate investment trust for $2.2 billion, including debt.
But before the merger is completed, the holders of the majority interest of the outstanding common units in CP Limited Partnership, Chateau's operating partnership, must approve the deal. The deadline for the holders of the outstanding common units is set for Oct. 8.
Under the proposed settlement, Hometown would waive its rights to a termination fee greater than $25 million. Hometown had been entitled to a termination fee of $40 million. It reduced its fees to allow Chateau to settle some shareholder lawsuits.
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