Red Lion Hotels receives takeover offer; shares jump 22%
Red Lion Hotels Corporation (NYSE:RLH) on Monday received an unsolicited takeover offer from Columbia Pacific Opportunity Fund Co., pushing shares of Red Lion Hotels up more than 22%. Columbia Pacific is offering $9.50 per share in cash for the
Spokane, Wash.-based Red Lion Hotels. On Monday, the hotel chain was trading at $8.62, up about 22.3% from Friday’s close of $7.05. Red Lion Hotels owns and operates 53 hotels in the U.S. and Canada.
For detailed price information and recent news stories on Red Lion Hotels Corporation, click RLH.
Spokane, Wash.-based Red Lion Hotels. On Monday, the hotel chain was trading at $8.62, up about 22.3% from Friday’s close of $7.05. Red Lion Hotels owns and operates 53 hotels in the U.S. and Canada.
For detailed price information and recent news stories on Red Lion Hotels Corporation, click RLH.
About the Author
Reporter Dianna Heitz is based in SmallCapInvestor.com's Washington, DC bureau.