News for the Hospitality Executive
|NEW YORK, Nov.
3, 2011 -- Levi & Korsinsky is investigating the Board of
Directors of Sonesta International Hotels Corporation ("Sonesta" or the
"Company") (NASDAQ: SNSTA) for possible breaches of fiduciary duty and
other violations of state law in connection with the sale of the
Company to Sonesta Acquisition Corporation, an affiliate of Hospitality
Properties Trust. Under the terms of the transaction, Sonesta
shareholders will receive $31.00 for each share of Sonesta stock they
own. The transaction has a total approximate value of $174
million, including the assumption of debt.
Click here to learn how to join the action: http://www.zlk.com/sonesta-international-snsta, or call: 877-363-5972.
The investigation concerns whether the Sonesta Board of Directors breached their fiduciary duties to Sonesta stockholders by failing to adequately shop the Company before entering into this transaction and whether Sonesta Acquisition Corporation is underpaying for Sonesta shares, thus unlawfully harming Sonesta stockholders. Shareholders owning approximately 55% of Sonesta's outstanding shares have agreed to tender their shares.
If you own common stock in Sonesta and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/sonesta-international/.
Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Properties Trust Enters $150.5 Million Agreement to Acquire Royal
Sonesta Hotels in Cambridge, Massachusetts and New Orleans, Louisiana
/ November 2011
Revises Existing Agreements for 130 Hotels with Hospitality Properties
Trust into One New 25 Year Management Contract / July 2011
Properties Trust Sells 18 Homestead Hotels For $205.35 Million /
Purchases Two Crowne Plaza Hotels from FelCor for $63 million /
|Hospitality Properties Trust Agrees to Purchase 9 Hotels for $196.2 Million; Seven Hotels Are Being Purchased from FelCor Lodging Trust and Two from InterContinental Hotels Group / January 2006|
|Hospitality Properties Trust Acquires the 195 room Harbor Court Hotel in Baltimore for Approximately $60 million; Signs Agreement with IHG to Manage the Hotel under the InterContinental Hotels and Resorts Brand / January 2006|