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LaSalle Hotel Is Reconsidering Its Planned Takeover by Blackstone

  • Pebblebrook bid may lead to superior proposal: LaSalle board
  • Shareholders meeting on Blackstone offer scheduled for Sept. 6
Updated on

Blackstone Group LP doesn’t plan to raise its offer for LaSalle Hotel Properties, according to a person with knowledge of the matter, paving the way for the luxury-hotel company to complete a deal with competing suitor Pebblebrook Hotel Trust.

The latest version of Pebblebrook’s bid, from last week, may lead to a superior proposal to an agreement reached with Blackstone, a determination made unanimously by LaSalle’s board, the company said in a statement Monday.