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Innkeepers USA Taken Out

The REIT will be acquired for $17.75 a share.
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Innkeepers USA Trust

(KPA)

, a hotel real estate investment trust, agreed to be acquired by an affiliate of Apollo Investment Corp. for $17.75 a share.

Excluding debt that will be assumed, the deal is worth around $800 million.

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Innkeepers owns hotels branded Residence Inn, Summerfield Suites and Hampton Inn. Shares of Innkeepers were higher by 8.5% Monday at $17.85.