Ashford Hospitality Prime has recceived an unsolicited offer from the Weisman Group, a California-based investment company, to buy the company for about $735 million, reports Bloomberg. The company made the offer on Tuesday in a letter to Ashford Hospitality’s CEO Monty Bennett, saying that Weisman would pay $20.25 per common share and $25 per share for a preferred stock. A Weisman Group executive said the company is not firm on its offer price, and would like to reach an amicable deal. Yesterday, Ashford Prime released a statement confirming the proposal. Ashford has been in the headlines as shareholder Sessa has engaged in a proxy fight for control of its board. Read more here.
