Host Hotels & Resorts Inc. is urging holders of operating partnership units of Host Hotels & Resorts LP to reject an unsolicited mini-tender offer from MacKenzie Capital Management LP for up to 100,000 units.
The lodging real estate investment trust said MacKenzie is offering $13.10 per unit, less cash distributions made by the unit after July 31, arguing that the offer price is below the $15.78-per-share closing stock price of the company's common stock Aug. 28.
