Wyndham (WH) Board Of Directors Rejects Unsolicited Proposal From Choice (CHH)
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Wyndham Rejects Takeover Offer From Choice Hotels - WSJ
October 17, 2023 10:57 AM EDT(Updated - October 17, 2023 11:02 AM EDT)
Wyndham Rejects Takeover Offer From Choice Hotels - WSJ
Wyndham Hotels & Resorts reportedly rejected a $90/sh takeover offer by Choice Hotels."Bid Undervalues Wyndham's Growth Potential, Involves Significant Risk" - said an unnamed Wyndham executive.... MoreWyndham Hotels & Resorts, Inc. (WH) Halted, News Pending
October 17, 2023 10:39 AM EDTWyndham Hotels & Resorts, Inc. (NYSE: WH) Halted, News Pending
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Wyndham rejects Choice Hotels' $7.8 billion takeover bid
October 17, 2023 6:45 AM EDTBy Priyamvada C
(Reuters) -U.S. budget hotel operator Wyndham Hotels and Resorts on Tuesday rejected rival Choice Hotels' $7.8 billion cash-and-stock acquisition offer, calling it "underwhelming" and citing regulatory risks around a possible combination.
With nearly 1.5 million rooms worldwide between the two hotel groups, the combined entity could attract regulatory scrutiny, analysts said.
Wyndham's shares jumped as much as 13% to $78.48, but were well below the $90 per share offer price, which was at a 30% premium to the stock's close on Monday.
Earlier on Tuesday, Choice Hotels went public with its offer to buy Wyndham after months-long private talks... More
Choice Hotels goes public with $7.8B offer for rival Wyndham after talks break down
October 17, 2023 6:43 AM EDTChoice Hotels International, Inc. (NYSE: CHH) disclosed it made an offer to acquire rival Wyndham Hotels & Resorts, Inc. (NYSE: WH) for $90 per share in cash and stock. The two have been in merger talks for six months but Wyndham has since disengaged, Choice Hotels states.
"A few weeks ago, Choice and... More
