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Sign in Sign up for a FREE subscriptionCorePoint Lodging to be acquired by JV in $1.5b deal
CorePoint Lodging has entered into a definitive agreement to be acquired through a joint venture between affiliates of Highgate and Cerberus Capital Management.
Under the terms of the merger agreement, Highgate and Cerberus will acquire all outstanding shares of CorePoint common stock in an all-cash transaction valued at approximately $1.5 billion.
The transaction is expected to close in first quarter 2022.
In connection with the transaction, affiliates of Blackstone Inc. which own about 30 percent of CorePoint’s total shares outstanding, have entered into a voting agreement under which they have agreed to vote all of their shares in favor of the transaction.
