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Starwood New Takeover Offer

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elim
Senior Contributor

Starwood New Takeover Offer

 

Led by China's Anbang Insurance Group, which bought the Waldorf-Astoria in New York last year for $1.95 billion. I hope they stay on track with the Marriott deal. But, If they are like a lot of other big money Corp's and can make a few bucks, They will gladly sell more U.S. assets to China.

 

 

"Starwood Hotels & Resorts on Monday announced it had received a rival takeover bid by a group of investors that valued the company at $76 a share in cash.

Starwood stock surged about 8 percent in the premarket, with shares trading right around that offer amount.

 

In November, Starwood entered into a merger agreement with Marriott International, under which Marriott would acquire Starwood in a $12.2 billion stock and cash transaction.

But Starwood has received a waiver from Marriott enabling it to engage in discussions with the investor group in connection with its proposal. The Marriott waiver expires Thursday at 11:59 p.m. ET."

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