Wyndham says its board is unanimously rejecting Choice Hotels' unsolicited buyout offer worth nearly $8 billion.
Wyndham Hotels & Resorts rejected an unsolicited $8 billion buyout offer from Choice Hotels, a smaller chain that sent a letter to Wyndham shareholders Tuesday after negotiations broke down.
Holmes said Wyndham has engaged with Choice and its advisors multiple times to explore the risks of a potential deal, but realized that it would likely take more than a year to determine if, and on what terms, the proposed transaction could clear antitrust review. Choice, based in Rockville, Maryland, is offering $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own, a 20% premium to Wyndham's last closing price.Choice's proposal allows Wyndham shareholders to choose either cash, stock, or a combination of cash and stock. The proposal also includes giving Wyndham two seats on the combined company’s board.
Choice first approached Wyndham in April, offering $80.00 per share, with 40% of that cash and 60% Choice stock, but was rejected, Choice said.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per shareJames Rogers is a Financial Columnist for MarketWatch.
続きを読む »
Choice Hotels offers nearly $8 billion for larger rival Wyndham Hotels & Resorts as travel boomsChoice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off an a buyout worth nearly $8 billion after Wyndham broke off negotiations after six months. Choice, based in Rockville, Maryland, is offering $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own.
続きを読む »
Choice Hotels International Presents Bid to Acquire Wyndham Hotels & ResortsWyndham Hotels & Resorts stock surged early Tuesday after rival Choice Hotels offered to buy the company for $90 a share.
続きを読む »
Choice Hotels offers nearly $8 billion for larger rival Wyndham Hotels & Resorts as travel boomsChoice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off on a buyout worth nearly $8 billion after Wyndham broke off negotiations.
続きを読む »
Choice Hotels offers nearly $8 billion for larger rival Wyndham Hotels & Resorts as travel boomsChoice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off on a buyout worth nearly $8 billion after Wyndham broke off negotiations.
続きを読む »
Choice Hotels offers nearly $8B for rival Wyndham Hotels & Resorts as travel boomsChoice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off on a buyout worth nearly $8 billion after Wyndham broke off negotiations
続きを読む »