03/19/2010 11:29:25 AM EST
Extended Stay accepts offer from Starwood Capital
(GREENWICH, Conn.) Extended Stay Hotels Inc. has decided to take an investment offer worth up to $905 million from a group led by Starwood Capital Group in order to exit bankruptcy, abandoning an earlier proposal from Centerbridge Partners and Paulson & Co.
The hotel chain said Thursday that the proposal from Starwood…
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