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Starwood, Blackstone In Potential Four-Way Bidding War For Hotel REIT
Starwood Capital (CEO Barry S. Sternlicht, left) and billionaire Guo Guangchang’s Fosun International have joined Blackstone and Gaw in weighing bids for Ascendas Hospitality Trust, a Singapore-based hotel REIT valued at $588M.
Sources told Bloomberg that Starwood and Fosun could put up offers for the company as early as the end of January. Ascendas shares jumped 7.1% on the news in their biggest gain since July 2012, Bloomberg reports.
