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Article: MeriStar Hotels & Resorts and Interstate Hotels Corporation Complete Merger; Combined Company, Interstate Hotels & Resorts, to Begin Trading on NYSE August 1.
- Article from:
- Business Wire
- Article date:
- July 31, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
WASHINGTON & PITTSBURGH--(BUSINESS WIRE)--July 31, 2002
MeriStar Hotels & Resorts (NYSE: MMH) and Interstate Hotels Corporation (Nasdaq: IHCO) today completed their previously announced merger.
Stockholders of both companies approved the merger at separate stockholder meetings on July 30. At the MeriStar stockholder meeting on July 30, MeriStar stockholders also approved a one-for-five reverse stock split, which was effected after the close of trading on July 31. As a result, the combined company, Interstate Hotels & Resorts, Inc. (NYSE: IHR) will begin trading on August 1 on a post-split basis.
"With over 400 hotels ...