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FEB 19, 2013 - Washington Business Journal

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Strategic Hotels urged to sell by large shareholder

Strategic Hotels & Resorts Inc. has been asked to consider an “immediate sale” of the company by the New York investment firm Orange Capital LLC because market conditions are ripe for the hotel chain to sell and “maximize shareholder value.” Earlier this month, Orange Capital, which owns 6.25 million shares of Strategic stock, sent a letter to Strategic’s board saying it believed the sale of the company’s properties would likely result in proceeds of $11 to $14 per share, a 40 percent…

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