Chicago-based Hometown, which is privately held, plans toacquire the Greenwood Village-based real estate investment trustfor $2.2 billion, including debt.
But before the merger is completed, the holders of the majorityinterest of the outstanding common units in CP Limited Partnership,Chateau's operating partnership, must approve the deal. Thedeadline for the holders of the outstanding common units is set forOct. 8.
Under the proposed settlement, Hometown would waive its rightsto a termination fee greater than $25 million. Hometown had beenentitled to a termination fee of $40 million. It reduced its feesto allow Chateau to settle some shareholder lawsuits.
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