Market Overview

Sonesta Announces Approval of Merger by Stockholders


Sonesta International Hotels Corporation (Nasdaq: SNSTA) announced today that, at a special meeting of stockholders held on December 30, 2011, the stockholders of Sonesta adopted the Agreement and Plan of Merger, dated as of November 2, 2011, by and among Sonesta Acquisition Corp., an affiliate of Hospitality Properties Trust (NYSE: HPT), PAC Merger Corp. and Sonesta.

Upon completion of the merger pursuant to the Merger Agreement, the holders of Class A common stock of Sonesta will have the right to receive $31.00 per share, without interest and subject to applicable withholding. Sonesta expects the closing to occur on or before January 31, 2012.

Posted-In: News M&A


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