CPLG - CorePoint stockholders' approves going private transaction

CorePoint Lodging (CPLG -0.0%) announced that its stockholders voted to approve the acquisition of CorePoint by a joint venture between affiliates of Highgate and Cerberus Capital Management, L.P. The transaction is expected to close as early as March 3, 2022. Keith Cline, President and Chief Executive Officer of CorePoint, said, “I thank our stockholders for their support of this transaction and am incredibly grateful to the CorePoint team for their continued dedication to serving our stakeholders. We look forward to completing this transaction and delivering immediate and compelling cash value to our stockholders.” As per the merger agreement, Highgate and Cerberus will acquire all outstanding shares of CorePoint common stock in an all-cash transaction for consideration to be paid upon completion of the transaction of $15.99 per share in cash. The deal was announced in November 2021.

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CorePoint stockholders' approves going private transaction