• Strategic to acquire two Four Seasons hotels

Strategic Hotels & Resorts is to buy two Four Seasons hotels from The Woodbridge Company.

The Four Seasons Jackson Hole and Four Seasons Silicon Valley will be paid for by issuing 15.2 million shares of Strategic stock to Woodbridge, valued at $95m. Laurence Geller, CEO, said: "The transaction will be immediately accretive and will be consistent with our long-stated strategy of deleveraging our balance sheet."

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