Why Hersha Hospitality Trust Shares Are Soaring Today?
Portfolio Pulse from Shivani Kumaresan
Hersha Hospitality Trust (NYSE:HT) announced a merger with KSL Capital Partners LLC, with KSL acquiring all outstanding common shares of Hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion. This represents a premium of approximately 60% over Hersha's closing share price on August 25, 2023. The transaction is expected to be completed in Q4 2023, after which Hersha's shares will no longer be listed on any public securities exchange.
August 28, 2023 | 12:39 pm
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Hersha Hospitality Trust's shares are expected to rise in the short term due to the announced merger with KSL Capital Partners. However, post-merger, the shares will be delisted from public securities exchange.
The merger announcement has led to a surge in Hersha's share price due to the premium offered by KSL Capital Partners. However, post-merger, the shares will be delisted, which means they will no longer be publicly traded.
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