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Article: Equity Inns Agrees to Be Acquired by Whitehall.
- Article from:
- Business Wire
- Article date:
- June 21, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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$23.00 Per Share in Cash - Transaction Valued at $2.2 Billion
GERMANTOWN, Tenn. -- Equity Inns, Inc. (NYSE: ENN), the third largest hotel real estate investment trust (REIT) based on the number of hotels owned, today announced that it has entered into a definitive merger agreement under which an affiliate of Whitehall Street Global Real Estate Limited Partnership 2007 ("Whitehall") will acquire Equity Inns, Inc. in a transaction valued at approximately $2.2 billion, including debt.
Under the terms of the agreement, Whitehall will acquire all of the outstanding common shares of Equity Inns, Inc. for $23.00 per share in cash. This represents a premium of ...