Extended Stay America, Inc. - Paired Shares (STAY) News
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STAY News Highlights
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- Over the past 16 days, the trend for STAY's stories per day has been choppy and unclear. It has oscillated between 1 and 4.
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Latest STAY News From Around the Web
Below are the latest news stories about Extended Stay America Inc that investors may wish to consider to help them evaluate STAY as an investment opportunity.
Extended Stay America Acquired by Blackstone and Starwood Capital Group for $6BExtended Stay America (STAY), along with its paired-share REIT, ESH Hospitality, Inc., has been acquired by funds managed by Blackstone Real Estate Partners (Blackstone) and Starwood Capital Group for $20.50 per paired share in a cash transaction worth $6 billion. Requisite under the terms of the deal, STAY declared a special cash dividend of $1.75 per share paid immediately before the effective time of the merger to shareholders of record on June 15. (See STAY stock chart on TipRanks) Shareholders on the record date and through the effective time of the mergers will receive $20.50 in cash, which includes the special cash dividend of $1.75 as well as the deal consideration. The consideration comprises $10. |
Thursday’s Pre-Market: Here’s What You Need to Know Before the Market OpensU.S. stock futures dipped on Thursday as investors await data related to the pace of recovery in the labor market. The weekly unemployment claims report and the Philadelphia Fed business outlook report for June will be released today. S&P, Dow, and Nasdaq futures were in red at the time of writing, with 0.3%, 0.2%, and 0.4% lower trading, respectively. Commercial Metals Company (CMC), Jabil Circuit (JBL), and Kroger Company (KR) are expected to report earnings before the market opens, while Dyna |
Blackstone and Starwood Capital Group Complete Acquisition of Extended Stay AmericaCHARLOTTE, N.C., June 16, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended Stay” or the “Company”) (NASDAQ: STAY) today announced the completion of their previously announced acquisition by funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group for $20.50 per paired share in cash in a transaction valued at approximately $6 billion. As required under the terms |
Blackstone, Starwood Deal for Extended Stay Wins Approval(Bloomberg) -- Blackstone Group Inc. and Starwood Capital Group’s takeover of Extended Stay America Inc. has been approved by the hotel chain’s shareholders.The preliminary results of the vote show that a majority of the shareholders were for the deal at $20.50 a share, according to a statement on Friday.The private equity firms agreed to buy Extended Stay in March for $19.50 a share, boosting their offer by $1 per share after opposition from six shareholders, including Tarsadia Capital, which c |
Extended Stay America Shareholders Vote to Approve Transaction With Blackstone and Starwood CapitalCHARLOTTE, N.C., June 11, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended Stay” or the “Company”) (NASDAQ: STAY) today announced that preliminary results show holders of a majority of its shares have voted in favor of the previously announced amended merger agreement under which the company will be acquired by funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital |
Extended Stay Sale to Blackstone, Starwood Likely to Pass(Bloomberg) -- Blackstone Group Inc. and Starwood Capital Group’s proposed takeover of Extended Stay America Inc. is expected to pass a shareholder vote Friday despite opposition from some of its investors, according to people familiar with the matter.Early results show that investors in the lodging company will approve the deal, the people said, asking not to be identified because the matter isn’t public. The figures are preliminary, and shareholders could still change their vote ahead of the m |
Why Is Extended Stay America (STAY) Up 2.6% Since Last Earnings Report?Extended Stay America (STAY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues. |
Hyatt (H) Raises 2021 Net Rooms Growth Guidance, Stock UpHyatt (H) continues to focus on strategies related to various acquisitions and divestitures. |
Extended Stay America Urges Shareholders to Vote FOR Transaction With Blackstone and Starwood CapitalSpecial Meeting to Approve Transaction Will Be Held This Friday, June 11th Leading Independent Proxy Advisor ISS Recommends Shareholders Vote in Favor; Board Unanimously Agrees Shareholders Should Consider Meaningful Downside Risk if the Transaction is Not Approved, Which Has Been Acknowledged by Independent Third Parties CHARLOTTE, N.C., June 09, 2021 (GLOBE NEWSWIRE) -- Extended Stay America, Inc. (“ESA”) and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and, together with ESA, “Extended |
ISS Recommends That Extended Stay America Shareholders Vote In Favor of Higher Deal Price50 joint venture between Blackstone Real Estate Partners (BX) and private investment firm Starwood Capital Group. The deal was priced at $19.50 per share for a total cash consideration of $6 billion. The offer price faced criticism from investors, especially, Tarsadia Capital which owned a 3.9% stake in Extended Stay. The investor believed that that the offer price undervalued the company and expected a higher price for the shares. |