Kendall Law Group Investigates Interstate Hotel & Resort, Inc. on Behalf of Shareholders

Kendall Law Group, founded by a former federal judge, is investigating the proposed acquisition of Interstate Hotel & Resort, Inc. (NYSE: IHR) by Hotel Acquisition Co., LLC. The investigation concerns whether the consideration to be paid to shareholders in this transaction is unfair and substantially below the fair or inherent value of the company. Also, the investigation will focus on whether the Board of Directors of IHR may have breached their fiduciary duties by entering into an agreement with deal protection devices that will likely prevent other superior offers.

On December 18, 2009, International Hotels Interstate Hotel & Resort announced that it has reached an agreement to sell the Company to Hotel Acquisition Co., LLC, a joint venture between Thayer Lodging Group and Shanghai Jin Jiang. The $307 million transaction contains a no-solicitation provision, $3.0 million termination fee and reimbursement in an amount up to $1.5 or $3.5 million, depending on the circumstances. According to the agreement, shareholders will receive $2.25 in cash per IHR share owned.

If you are a current holder of IHR and would like additional information concerning this proposed transaction, including your rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former United States Attorney, federal judicial law clerk, a former state and federal judge, in addition to experienced securities lawyers.

Interstate Hotels (NYSE:IHR)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024