ARLINGTON, VA—Chesapeake Lodging Belief’s shareholders accepted the proposed merger of the belief with and right into a subsidiary of Park Resorts & Resorts Inc.
It’s pursuant to the beforehand introduced settlement and plan of merger, dated as of Might 5, 2019, by and amongst Park, PK Home Property LLC, an oblique subsidiary of Park, PK Home Sub LLC, a whollyowned subsidiary of PK Home, and the belief, as it could be amended on occasion, on the phrases and topic to the situations set forth within the merger settlement.
On the particular assembly of the belief’s shareholders, roughly 88% of the excellent shares of the belief’s frequent shares of helpful curiosity had been voted, with roughly 99% of the votes solid in favor of the merger.
The merger is predicted to shut on or about Sept. 18, 2019, topic to the satisfaction or waiver of all closing situations associated to the transaction. Upon completion of the transaction, every issued and excellent frequent share of helpful curiosity of the belief will probably be transformed into the correct to obtain 0.628 of a share of Park frequent inventory and $11 in money. Park frequent inventory will proceed to commerce on the New York Inventory Alternate following the Merger underneath the image “PK.”