trending Market Intelligence /marketintelligence/en/news-insights/trending/fr0AB7HOrvDHn8VkKsM0fA2 content esgSubNav
In This List

Apple Hospitality, Apple REIT Ten to put merger to shareholder votes

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Apple Hospitality, Apple REIT Ten to put merger to shareholder votes

Apple HospitalityREIT Inc. and Apple REITTen Inc. will put their $1.3 billion merger to a vote at separate shareholder meetings scheduledfor Aug. 31.

Shareholders of Apple Hospitality will be asked to vote on theproposed issuance of 49.1 million of the company's common shares to Apple Ten shareholdersas partial consideration for the deal.Apple Hospitality will pay the balance of $94 million in cash.

At its meeting, Apple Ten will ask its shareholders to vote ona proposal to approve the merger,which is anticipated to close in the third quarter.