Announced
Completed
Financials
Sources
Tags
Friendly
Hotels and Motels
Acquisition
hotel management
Single Bidder
Private
United States
Completed
Spin Off
Synopsis
Wyndham Worldwide Corporation and La Quinta Holdings Inc. announced that they have entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta's hotel franchise and hotel management businesses for $1.95bn in cash. The acquisition is expected to close in the second quarter of 2018. Under the terms of the agreement, stockholders of La Quinta will receive $8.40 per share in cash (approximately $1.0bn in aggregate), and Wyndham Worldwide will repay approximately $715m of La Quinta debt net of cash and set aside a reserve of $240m for estimated taxes expected to be incurred in connection with the taxable spin-off of La Quinta's owned real estate assets into CorePoint Lodging Inc.
Search a database of more than 250,000 verified dealmakers
Receive automated updates on global transactions
Follow the activity, relationships and transactions of top dealmakers
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.