I wonder why the trust isn't moving with the prime?
Ashford Hospitality Trust, Inc. (AHT) -NYSE
5.40 Up 0.14(2.66%) 11:30AM EDT
Ashford Hospitality Prime, Inc. (AHP) -NYSE
14.97 Up 3.65(32.24%) 11:31AM EDT
Ashford Hospitality Prime, a U.S hotel owner that has been under pressure by activist investors, received an unsolicited offer from the Weisman Group to buy the company for about $1.48 billion, including debt.
Weisman made the offer in a letter Tuesday to Monty Bennett, chief executive officer of Ashford Hospitality, according to a regulatory filing Wednesday. Weisman would pay $20.25 a share in cash for the common shares and about $25 per share for preferred stock, for a total equity value of about $735 million.
The price for the common shares is 79 percent more than Tuesday’s closing price of $11.32. Ashford said in a statement Wednesday that it will carefully review the proposal.
Weisman had a 4.9 percent stake in Ashford Hospitality as of April 21, according to Bloomberg data. At least two other top ten holders support the bid, according to people with knowledge of the matter, who asked not to be named because it is private.