La Quinta Corporation and La Quinta Properties, Inc. (NYSE:LQI) today announced that they have entered into a definitive merger agreement to be acquired by an affiliate of The Blackstone Group for $11.25 per paired share in cash. The price represents a premium of 37% over yesterday's closing price of $8.22. The total value of the transaction, including debt, is approximately $3.4 billion. The boards of directors of La Quinta unanimously approved the merger agreement and recommended approval by
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