Stockholders approve Interstate acquisition

03/11/2010 | BusinessTravelNews.com

Stockholders for Interstate Hotels & Resorts approved the acquisition of the company by a joint venture including Thayer Lodging Group and Shanghai Jin Jiang International Hotels. Under the deal, the joint venture, called Hotel Acquisition Company, will acquire Interstate for $2.25 per share, estimated in December to be worth more than $300 million.

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