Shares of Extended Stay America Inc. (STAY) soared 15.9% toward a 2-year in premarket trading Monday, after The Wall Street Journal reported and Starwood Capital Group in a deal valued at $6 billion. The WSJ report did not have a per-share price paid, but said the companies will release details of the deal on Monday. Extended Stay's stock closed Friday at $16.94, giving the company a market capitalization of $3.01 billion. The stock has rallied 137.9% over the past 12 months, while the S&P 500 has gained 45.5%.
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Extended Stay's stock soars after WSJ report of $6 billion buyout deal with Blackstone, Starwood
Dow Jones2021-03-15
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