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Ashford Prime reaches deal with Sessa Capital
February 16, 2017 / 9:41 PM / 8 months ago

Ashford Prime reaches deal with Sessa Capital

Feb 16 (Reuters) - Ashford Hospitality Prime Inc. has reached an agreement with hedge fund Sessa Capital to add two directors to the real estate investment trust’s board.

The agreement ends a long feud between the company and the hedge fund, which launched a proxy fight against it last year and was close to launching another before the two sides entered settlement talks.

The deal also allows the company and the hedge fund to jointly select an additional director to the board.

Reporting by Michael Flaherty; Editing by Chris Reese

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