Pebblebrook Offers Final Merger Proposal To LaSalle - Quick Facts

(RTTNews) - Pebblebrook Hotel Trust (PEB) issued a letter to the Board of Trustees of LaSalle Hotel Properties (LHO) in which Pebblebrook provided a final merger proposal. The company said the non-binding proposal for 100% of LaSalle's outstanding common shares represented a implied price of $32.49 per LaSalle common share. The implied price of $32.49 per share is based on an increased fixed exchange ratio of 0.9085 Pebblebrook common share for each LaSalle common share, and is $2.49 per share, or 8.3%, above the implied price of Pebblebrook's original offer.

Pebblebrook's revised proposal also provides LaSalle's common shareholders with the option to elect to receive cash up to a maximum of 20% in the aggregate.