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Fly News Breaks for July 22, 2016
AHP
Jul 22, 2016 | 07:44 EDT
Canaccord noted the Weisman Group increased its bid to buy Ashford Hospitality Prime and made an offer that is full and fair value for the REIT. The firm believes a deal is now more likely, but they are still not confident one will materialize. Canaccord believes if the Board does not accept the offer it would highlight that the external management structure is value destructive, which would be negative for the stock. Canaccord maintained its Hold rating and $14 price target on Ashford Hospitality Prime shares.
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