BX - Extended Stay gains on report Blackstone Starwood sale expected to be approved

hapabapa/iStock Editorial via Getty Images Extended Stay (STAY) rose 0.5% on reports that itssale to Blackstone (BX) and Starwood Capital was likely  approved by shareholders at a vote earlier today. CTFN's Diane Alter tweeted that a preliminary tally indicated Extended Stay had about 10M votes over the amount needed to complete the deal and that an official announcement would come around noon. Yesterday, Bloomberg reported that the deal was s expected to be approved by shareholders, citing early voting results. The approval comes after Blackstone/Starwood raised its bid for the lodging company by a $1/share last week and proxy firm ISS changed its recommendation for approval of the deal.

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Extended Stay gains on report Blackstone, Starwood sale expected to be approved