Monday, October 10, 2011

Cerberus and Innkeepers USA Trust reach a settlement - lower execution price

From Bloomberg:

The settlement includes a reduction in the price New York- based Cerberus and Chatham Lodging Trust will pay to acquire Innkeepers, said the people, who didn’t disclose the new price and asked not to be named because the talks are private. The accord, reached after a weekend of negotiations, isn’t final and could still fall apart, said the people, and a final agreement is subject to approval by the U.S. bankruptcy court judge overseeing Innkeepers’ restructuring.

No comments: