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Article: Patriot American Hospitality And Interstate Hotels Company Announce Final Exchange Ratio For Patriot's Acquisition Of Interstate
- Article from:
- PR Newswire
- Article date:
- March 23, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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Shareholder Meetings Are Scheduled for March 30,
With Acquisition Targeted to Close on Or About April 2
DALLAS and PITTSBURGH, March 23 /PRNewswire/ -- Patriot American Hospitality, Inc. ("Patriot"), whose shares are paired with those of Wyndham International, Inc. (NYSE: PAH), and Interstate Hotels Company (NYSE: IHC) jointly announced today that the measurement period to determine the exchange ratio in connection with Patriot's acquisition of Interstate concluded on Friday, March 20. Pursuant to the Merger Agreement, Patriot will acquire 40% of the outstanding shares of Interstate common stock for $37.50 per share in cash, while the ...