Reported Earlier, Braemar Hotels & Resorts Confirms Blackwells Capital's Proxy Effort At Ashford Trust Unsuccessful
Portfolio Pulse from Benzinga Newsdesk
Braemar Hotels & Resorts Inc. (NYSE:BHR) announced that Blackwells Capital LLC's proxy campaign at Ashford Hospitality Trust, Inc. (NYSE:AHT) was unsuccessful, with only 7% of shares voting on the Blackwells proxy card. Ashford Trust confirmed that seven of its nine nominees received a majority of votes, and the remaining two were re-appointed by the Board.
May 15, 2024 | 6:31 am
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POSITIVE IMPACT
Ashford Hospitality Trust confirmed that Blackwells Capital's proxy campaign failed, with only 7% support. This outcome reinforces the current board's position.
The failure of the proxy campaign indicates strong support for the current board, which is likely to have a positive short-term impact on AHT's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Braemar Hotels & Resorts announced the failure of Blackwells Capital's proxy campaign at Ashford Trust, which may stabilize investor confidence in Braemar's management.
The failure of the proxy campaign suggests that Braemar's management retains control and investor confidence, which is likely to have a positive short-term impact on BHR's stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80