Hersha hospitality trust to be acquired by ksl capital partners

Hersha common shareholders to receive $10.00 per share in cash, a 60% premium to prior closing price provides shareholders with immediate and certain value at a substantial premium philadelphia and denver, aug. 28, 2023 (globe newswire) -- hersha hospitality trust (nyse: ht) (“hersha” or the “company”), owner of luxury and lifestyle hotels in coastal gateway and resort markets, and ksl capital partners, llc (“ksl”), a leading investor in travel and leisure businesses, today announced a definitive merger agreement, entered into on august 27, 2023, under which affiliates of ksl will acquire all of the outstanding common shares of hersha for $10.00 per share in an all-cash transaction valued at approximately $1.4 billion. the purchase price represents a premium of approximately 60% over hersha's closing share price on august 25, 2023, the last full trading day prior to this announcement.
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