1 Min Read
Feb 21 (Reuters) - Felcor Lodging Trust Inc:
* Felcor Lodging Trust responds to Ashford Hospitality Trust's unsolicited proposal
* "company has engaged with AHT since last fall; unable to reach mutually beneficial terms"
* Felcor acknowledged receipt of AHT's intent to nominate seven directors for nomination at company's next annual meeting
* "Felcor shareholders need take no action at this time"
* Felcor board will review AHT's proposal of Feb 21, 2017, together with its financial, legal advisors, respond as appropriate
* Felcor board of directors will review AHT's nominees and make a recommendation to shareholders in due course
* Proposal follows several months in which co engaged with AHT to explore possibility that mutually deal could be reached Source text for Eikon: Further company coverage: