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Ashford stockholders approve Remington deal

Oct. 24, 2019 5:02 PM ETAshford Inc. (AINC) Stock, AHT Stock, BHR StockAHT, BHR, AINCBy: Liz Kiesche, SA News Editor
  • Ashford Inc. (NYSEMKT:AINC) stockholders approve the proposals relating to the company's combination with Remington Holdings.
  • Holders of ~92% of Ashford shares present and voting at the meeting, representing more than 75% of outstanding voting shares, voted in favor of the combination.
  • ~87% of shares, excluding shares owned by the Bennett family, present and voting at the meeting voted in favor of the deal.
  • Also, ~70% of shares, excluding shares owned by Ashford Hospitality Trust (NYSE:AHT), Braemar Hotels & Resorts (NYSE:BHR), and insiders and related parties, present and voting at the meeting voted in favor of the combination.
  • Expects closing of the transaction to occur on or around Nov. 6, 2019.
  • Previously: Ashford to buy Remington's hotel management business for $275M (June 3)

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