Monday, March 28, 2016

Marriott once again outbid for Starwood Hotels by Chinese consortium

A consortium of Chinese investors led by Anbang Insurance Group Co. has again upped its bid for U.S. hotelier Starwood Hotels & Resorts Worldwide Inc., topping the most recent bid by Bethesda-based Marriott International Inc. The Anbang consortium is offering $82.75 per share in an all-cash offer, an increase over Marriott’s (NASDAQ: MAR) mostly stock offer March 21, which valued Starwood at roughly $79.53 per share. The new offer will most likely be determined a “superior proposal” under…



from http://www.bizjournals.com/baltimore/blog/real-estate/2016/03/marriott-once-again-outbid-for-starwood-hotels-by.html?ana=RSS%26s=article_search
via http://baltimorecheckbook.tumblr.com/post/141844533697

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