Hotel real estate investment trust MeriStar Hospitality Corp. said on Tuesday it agreed to be bought by private equity firm Blackstone Group for about $2.6 billion, making it the latest deal in a spate of mergers in the lodging industry.
Under terms of the deal, Blackstone will pay $10.45 cash for each MeriStar share, which represents a premium of about 5 percent over MeriStar’s closing price of $9.93 on Friday.
