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Choice Hotels is targeting Wyndham Hotels & Resorts in a hostile takeover attempt after repeated attempts to reach a deal with the rival hotel chain were rebuffed.
/PRNewswire/ -- Choice Hotels International, Inc. (NYSE: CHH) (the "Company" or "Choice"), today announced that it is commencing an exchange offer to acquire...
Choice, which first went public with a bid for its rival on October 16, described its existing cash and stock offer as a 30-percent premium of Wyndham's share price in October, equal roughly to a $7.8 billion in all.
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Choice Hotels is launching a hostile takeover offer for Wyndham Hotels & Resorts after attempts to reach a deal with the hotel chain were rebuffed