Equity Inns to pay dividend following merger close

By Lisa Kerner

Charlotte, N.C., Oct. 18 - Equity Inns, Inc. said it expects its merger with an affiliate of Whitehall Street Global Real Estate LP 2007 to close on or about Oct. 25 following the recent approval of the deal by Equity Inns' shareholders.

In connection with the merger's close, Equity Inns declared a pro rated dividend of $0.07065 per share payable to shareholders of record as of Oct. 24, a company news release stated.

On June 22, Equity Inns agreed to be acquired by the Whitehall affiliate for $23.00 per share in a cash deal valued at about $2.2 billion, including debt.

Equity Inns is a hotel real estate investment trust based in Germantown, Tenn.

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