Blackstone Group About to Acquire Wyndham International for $3.24 Billion
29 June 2005 6:00am
Wyndham International, Inc. has recently entered into a definitive merger agreement to be bought out by an affiliate of The Blackstone Group in a transaction valued at $3.24 billion.
Blackstone, a private investment firm, expects to close the acquisition of Dallas-based Wyndham in the fourth quarter. Blackstone will acquire all of the outstanding Common Stock of Wyndham for $1.15 per share in cash.
The completion of the merger agreement is subject to various customary closing conditions. Wyndham International, Inc. offers upscale and luxury hotel accommodations. Wyndham owns, leases, manages and franchises hotels and resorts in the U.S., Canada, Mexico, the Caribbean and Europe.
