BX - Extended Stay holder plans to vote in favor of Blackstone/Starwood deal

Extended Stay (STAY) holder Zimmer Partners plans to vote in favor of sale to Blackstone Real Estate and Starwood Capital after the increased $20.50 offer this week.Zimmer Partners owns less than 5% of the company, Dealreporter said, citing interview with Steven Franke,l who's head of real estate at the investment firm.At least one shareholder, Tarsadia Capital, has publicly said its still against the deal even after the $1 boost. Dealreporter said other holders still also oppose the transaction.Extended Stay rose 1% today.Last week, Proxy advisory firm ISS said to vote against Extended Stay $6B sale to Blackstone/Starwood.

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Extended Stay holder plans to vote in favor of Blackstone/Starwood deal