Park Hotels to Buy Chesapeake Lodging Trust in $2.7 Billion Deal

Park Hotels & Resorts Inc. (NYSE: PK) said May 6 it will purchase Chesapeake Lodging Trust (NYSE: CHSP) in a cash and stock transaction valued at approximately $2.7 billion.

Park was formed in early 2017, when Hilton Worldwide spun off most of its owned real estate into a separate public REIT.

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