Pebblebrook Hotel ups bid for LaSalle Hotel

|About: LaSalle Hotel Properties (LHO)|By:, SA News Editor

This latest and "final" proposal represents an implied price of $32.49 per LaSalle Hotel (NYSE:LHO) share, based on a fixed exchange ratio of 0.9085 Pebblebrook (NYSE:PEB) shares for each LHO share.

LaSalle owners may choose to receive cash up to a maximum 20% in the aggregate.

The previous bid was for $31.75, which was up from the original $30.

Thus far, the LaSalle board has not been responsive to Pebblebrook's overtures.

LHO closed last night at $31.16.

Previously: Pebblebrook boosts bid for LaSalle Hotel (April 16)

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