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March 15, 2021, 7:46 a.m. EDT

Extended Stay's stock soars after WSJ report of $6 billion buyout deal with Blackstone, Starwood

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By Tomi Kilgore

Shares of Extended Stay America Inc. soared 15.9% toward a 2-year in premarket trading Monday, after The Wall Street Journal reported that the hotel operator has agreed to be acquired by Blackstone Group /zigman2/quotes/203156858/composite BX -1.89% and Starwood Capital Group in a deal valued at $6 billion. The WSJ report did not have a per-share price paid, but said the companies will release details of the deal on Monday. Extended Stay's stock closed Friday at $16.94, giving the company a market capitalization of $3.01 billion. The stock has rallied 137.9% over the past 12 months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.84% has gained 45.5%.

/zigman2/quotes/203156858/composite
US : U.S.: NYSE
$ 113.92
-2.20 -1.89%
Volume: 3.76M
Jan. 18, 2022 4:00p
P/E Ratio
15.64
Dividend Yield
3.13%
Market Cap
$139.13 billion
Rev. per Employee
$3.38M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,577.11
-85.74 -1.84%
Volume: 2.74B
Jan. 18, 2022 4:56p
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