On Wednesday, Shares of Planned Hotels & Resorts, Inc. (NYSE:BEE), lost -0.28% to $14.03.
Planned Hotels & Resorts declared that it has reached a definitive agreement with associates of Blackstone Real Estate Partners VIII L.P., under which Blackstone will acquire all outstanding shares of common stock of Planned Hotels & Resorts, Inc., for $14.25 per share in cash, and all of the outstanding membership units of the Company’s partner, Planned Hotels Funding L.L.C., not held by the Company, for $14.25 per unit in cash. Counting outstanding debt of the Company, the total transaction value is about $6 billion.
The offer price represents a premium of about 13% over the unaffected intra-day trading price on July 23, 2015, at which point a media article was issued reporting a potential transaction for the Company. On August 17, 2015, the Company confirmed that its Board of Directors had retained J.P. Morgan and was exploring possible planned alternatives for the Company, counting the potential sale of the Company.
Planned Hotels & Resorts, Inc is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It is owner and asset manager of the highest quality portfolio of upper-upscale and luxury hotels and resorts.
Shares of Cheniere Energy, Inc. (NYSEMKT:LNG), declined -3.10% to $54.99, during its last trading session, hitting its lowest level.
Cheniere Energy, Inc., an energy company, engages in the liquefied natural gas (LNG) related business. It operates through two segments, LNG Terminal Business, and LNG and Natural Gas Marketing Business, according to Bloomberg.
Multibillion-dollar liquefied natural gas projects are facing a hard future as a crash in energy markets strains producers’ resources and global demand for the fuel wanes. Chanos has placed negative bets on Cheniere, declaring in an interview on CNBC that the LNG industry is a “looming disaster.”
The bet also mirrors Chanos’s bearish view of growth in China, one of the key potential markets for LNG supplies. Bloomberg Reports
Cheniere Energy, Inc., an energy company, engages in the liquefied natural gas (LNG) related business. It operates through two segments, LNG Terminal Business, and LNG and Natural Gas Marketing Business.
Finally, The Goldman Sachs Group, Inc. (NYSE:GS), ended its last trade with -0.11% loss, and closed at $185.68.
The Goldman Sachs Group, declared that its Merchant Banking Division (MBD) has retained Louis R. Chenevert to act as an exclusive advisor targeting opportunities in the aerospace and industrials sectors and advise other businesses.
Mr. Chenevert, 58, former Chairman and Chief Executive Officer of United Technologies Corp. (UTX), stepped down in November 2014 after 22 years with the company. During his six-year tenure as CEO of United Technologies, the market capitalization of the company nearly doubled. Chenevert additionally launched several of the leading products in the aerospace industry and industrials sectors. Additionally, he led transformational acquisitions and successful integrations of International Aero Engines and Goodrich Corporation, which remains the largest aerospace acquisition accomplished to date.
The Goldman Sachs Group, Inc. operates as an investment banking, securities, and investment administration company worldwide. The company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Administration.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
