Service Properties Trust Confirms Receipt of Unsolicited Proposal for Hotel Portfolio From TKO Hotels
NEWTON, Mass.–(BUSINESS WIRE)–Service Properties Trust (Nasdaq: SVC) (“SVC” or the “Company”) today confirmed that it had received an unsolicited proposal from TKO LLC (“TKO”) to acquire the Company’s hospitality portfolio for $2.0 billion in cash. Before receiving the proposal, the Company had no prior contact from TKO. The Company’s Board of Trustees (the “Board”) will carefully review and consider TKO’s proposal in determining the course of action that it believes is in the best interest o