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Cascade Investment, L.L.C. owns 26,912,800 shares (8/08/15)

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Enterprising Investor Member Level  Monday, 08/10/15 01:42:40 PM
Re: 56Chevy post# 226
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Cascade Investment, L.L.C. owns 26,912,800 shares (8/08/15)

Controls 9.8 percent(1)

(1) All shares of common stock (“Common Stock”) of Strategic Hotels & Resorts, Inc. (the “Issuer”) held by Cascade Investment, L.L.C. (“Cascade”) may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade.

Item 3. Source and Amount of Funds or Other Consideration

Since March 5, 2015, Cascade purchased 1,735,900 shares of Common Stock on the open market with its working capital for an aggregate purchase price of $21,450,689.89 (including commissions).

Item 4. Purpose of Transaction

In light of the possibility that the Issuer is exploring a potential sale transaction as noted in recent press reports, the Reporting Persons have determined to approach the Issuer about the possibility of exploring strategic alternatives for the Issuer, including the possibility of the Reporting Persons being a party to a transaction involving the acquisition of the Issuer. Such discussions may lead to the Reporting Persons participating in such a transaction. There is no assurance that any such transaction will in fact occur.

The Reporting Persons expect to consider and evaluate on an ongoing basis their investment in the Issuer’s Common Stock. From time to time, the Reporting Persons have engaged in and expect in the future to engage in discussions with directors, management and other representatives of the Issuer concerning the Reporting Person’ investments in the Issuer’s Common Stock. The Reporting Persons may also engage in discussions with these persons, with other securityholders of the Issuer and with other relevant parties concerning the business and strategic direction of the Issuer and opportunities to enhance shareholder value. The Reporting Persons may at any time, and from time to time, depending on their evaluation of their investment in the Issuer’s Common Stock, take any and all actions with respect to the Issuer and their investment in the Common Stock as they deem advisable and in their best interest, including disposing of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire. The Reporting Persons reserve the right to change their plans and intentions at any time, as they deem appropriate, and to take any and all actions that they may deem appropriate to maximize the value of their investment.

The foregoing summarizes the Reporting Persons’ plans or proposals as of the date hereof that relate to or would result in any matters listed in Items 4(a)-(j) of Schedule 13D.


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