Luxury Hospitality Daily News

< Previous news Next news >

The Blackstone Group Completes Acquisition of La Quinta

The Blackstone Group Completes Acquisition of La Quinta

Category: Worldwide
Article written by our desk on 2006-01-26


La Quinta Corporation (“LQ Corporation”) (NYSE: LQI) and its controlled
subsidiary, La Quinta Properties, Inc. (“LQ Properties” and, together with LQ Corporation, “La Quinta”),
today announced that they had completed their mergers with affiliates of The Blackstone Group. Under the
terms of the merger agreement, holders of La Quinta paired common shares will receive a total of $11.25 per
paired share in cash, without interest.
In connection with the closing of the mergers, the aggregate redemption price of LQ Properties 9% Series A
Cumulative Redeemable Preferred Stock (“Series A Preferred Stock”) and the corresponding depositary
shares (the “Depositary Shares”), each Depositary Share representing one-tenth of one share of the Series A
Preferred Stock, has been irrevocably deposited with American Stock Transfer & Trust Company (the
“Redemption Agent”). Holders of Depositary Shares may submit their receipts, along with a letter of
transmittal, to the Redemption Agent for redemption. As previously announced, holders of Depositary
Shares will receive an aggregate redemption price of $25.275 per Depositary Share. Holders of Series A
Preferred Stock will receive an aggregate redemption price of $252.75 per share of Series A Preferred Stock.
American Stock Transfer & Trust Company, as depositary, is the sole record holder of Series A Preferred
Stock and will receive the aggregate Series A Redemption Price for disbursement to the holders of
Depositary Shares. Questions regarding the redemption may be directed to the Redemption Agent at (877)
248-6417 or (718) 921-8317.



You will also like to read...







< Previous news Next news >




Join us on Facebook Follow us on LinkedIn Follow us on Instragram Follow us on Youtube Rss news feed



Questions

Hello and welcome to Journal des Palaces

You are a communication or the PR manager?
Click here

You are an applicant?
Check out our questions and answers here!

You are a recruiter?
Check out our questions and answers here!