Deals
27 November 2023, 3:19 am 1 minute
Reuters was first to report that Choice Hotels International (CHH.N) is preparing to nominate directors to the board of rival Wyndham Hotels & Resorts (WH.N), seeking to break a stalemate in an $8 billion takeover battle.
Market Impact
Choice has become a Wyndham shareholder by snapping up its shares in the open market and plans to raise its stake in the coming days. Wyndham, whose shares are currently hovering around $78, does not view Choice’s stock as an attractive currency and is seeking an offer with a much higher cash component, the sources said. Based on Choice’s latest share price, its offer values Wyndham at about $86 per share.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & FinanceFinancial Services
Regions: Americas
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story