Tags: China | hotels | merger | Starwood | Marriott | Anbang

Starwood Weighs Improved Takeover Bid from China's Anbang

Monday, 28 Mar 2016 10:21 AM

Starwood Hotels & Resorts said Monday it was weighing an improved takeover bid from a group led by Chinese insurer Anbang rivaling its agreed deal with Marriott International.

In the latest turn in the bidding war for the US hospitality company, Starwood said the consortium led by Anbang Insurance proposed Saturday a cash offer $14 billion, topping Marriott's $13.6 billion bid which the Starwood board is still recommending.

© AFP 2017

   
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Starwood Hotels Resorts said Monday it was weighing an improved takeover bid from a group led by Chinese insurer Anbang rivaling its agreed deal with Marriott International.
China, hotels, merger, Starwood, Marriott, Anbang
68
2016-21-28
Monday, 28 Mar 2016 10:21 AM
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