LaSalle Hotel Properties selects Pebblebrook

Pebblebrook Hotel Trust and LaSalle Hotel Properties have entered into a definitive merger agreement under which Pebblebrook will acquire 100 percent of LaSalle’s outstanding common shares.

LaSalle has terminated its previously announced merger agreement with affiliates of The Blackstone Group. LaSalle has canceled its special meeting of LaSalle shareholders previously scheduled for September 6, 2018, relating to the Blackstone-LaSalle Agreement.

The transaction is valued at approximately $5.2 billion.

It has been approved through a unanimous vote by the board of trustees of Pebblebrook and through a unanimous vote by the members of the LaSalle Board of Trustees present.