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Blackstone to buy Strategic Hotels & Resorts for $6 bn

US luxury property giant Strategic Hotels & Resorts said Tuesday it has accepted a $6 billion all-cash takeover offer from investment firm Blackstone, a leader in global real estate. Strategic owns and manages a portfolio of 18 upscale hotels, including the JW Marriott Essex House in New York, the Four Seasons hotel in Washington, and the Marriott Hamburg in Germany. The Blackstone offer “creates significant stockholder value with a high