Bethesda-based RLJ Lodging Trust (NYSE: RLJ) announced Monday it will merge with FelCor Lodging Trust Inc. (NYSE: FCH),creating a $7 billion company and what the pair record as the "largest pure-play public REIT committed to owning focused-service and compact full-service hotels."
The Irving, Texas-based FelCor will become a wholly owned subsidiary of RLJ under the all-stock transaction, and which is expected to shut by the end of 2017. The combined company will have an ownership interest in 160…
Source: bizjournals.com