NEW YORK (Reuters) - Cerberus Capital Management and Chatham Lodging Trust have reached a tentative agreement to buy bankrupt Innkeepers USA Trust at a lower price than an earlier deal that fell apart, a source close to the talks said.
Cerberus and Chatham would acquire the bankrupt hotel operator for about $1 billion in a deal that could become official as soon as Thursday, according to the person, who spoke anonymously because talks are private.
The parties are confident the deal will get done, though it is not official and could still fall apart, the person said.
via news.yahoo.com
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