Four Seasons Approves $3.8 Billion Offer

Four Seasons Hotels Inc. (NYSE: FS) said that its board has approved an $82 per share buyout offer from Cascade Investment (backed by Bill Gates), Kingdom Hotels International (backed by Saudi Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud) and Four Seasons chairman and CEO Isadore Sharp. The total deal would values the company at approximately $3.8 billion, with a shareholder vote slated for April.