BX - Blackstone Starwood Capital boosts offer for Extended Stay by $1 per share

After proxy advisory firm ISS recommended Extended Stay America (STAY) shareholders vote against the REIT's planned sale to Blackstone (BX) and Starwood Capital Group, the two prospective buyers agree to pay $1 per share more in cash for Extended Stay America, saying it's their "best and final" offer.The increase brings the total consideration to $20.50 per paired share in cash, or 21% higher than the stock's closing price of $16.94 on March 12, the last trading day before the merger agreement was announced on March 14.STAY shares rise 0.9% to $19.89 in premarket trading.A meeting of Extended Stay America shareholders scheduled for June 8 will be convened and then adjourned. The ESA special meeting and the Extended Stay Hospitality Meeting wll be reconvened on June 11.The transaction is on track to close on June 16, the company said.Previously (May 28), Proxy advisory firm ISS says to vote against Extended Stay $6B

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Blackstone, Starwood Capital boosts offer for Extended Stay by $1 per share