Sonesta Announces Approval of Merger by Stockholders
January 04 2012 - 10:08AM
Sonesta International Hotels Corporation
(Nasdaq:SNSTA) ("Sonesta") announced today that, at a special
meeting of stockholders held on December 30, 2011, the stockholders
of Sonesta adopted the Agreement and Plan of Merger, dated as of
November 2, 2011, by and among Sonesta Acquisition Corp. ("SAC",
formerly known as Property Acquisition Corp.), an affiliate of
Hospitality Properties Trust (NYSE:HPT), PAC Merger Corp. and
Sonesta (the "Merger Agreement"). Upon completion of the
merger pursuant to the Merger Agreement, the holders of Class A
common stock of Sonesta will have the right to receive $31.00 per
share, without interest and subject to applicable
withholding. Sonesta expects the closing to occur on or before
January 31, 2012.
About Sonesta
Based in Boston, Sonesta International Hotels Corporation owns,
operates and franchises upscale and upper upscale hotels, resorts
and cruise ships in North America, South America, the Caribbean and
the Middle East. There are presently 33 "Sonesta"-flagged
properties in Boston, Miami, New Orleans, Chile (3), Colombia (4),
Ecuador, Peru (7), Sint Maarten (2), and Egypt (13).
The Sonesta International Hotels Corporation logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=7017
Forward-Looking Statements
The statements made in this press release which are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. These forward-looking statements
include statements regarding the consummation of the merger, the
filing of documents and information with the SEC, other future or
anticipated matters regarding the transactions discussed in this
release and the timing of such matters. Such forward-looking
statements often contain or are prefaced by words such as "will"
and "expect." As a result of a number of factors, our actual
results could differ materially from those set forth in the
forward-looking statements. These risks, uncertainties and
contingencies are discussed in more detail in Sonesta's press
releases and public periodic filings with the SEC, including the
Annual Report on Form 10-K for the year ended December 31, 2010 and
other filings with the SEC. Many of the factors that will determine
Sonesta's future results are beyond the ability of management to
control or predict. Readers should not place undue reliance on
forward-looking statements, which reflect management's views only
as of the date hereof. Sonesta is under no obligation to (and
expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
CONTACT: Sonesta International Hotels Corporation
Boy van Riel, Vice President and Treasurer
(617-421-5444)
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