Stay updated with breaking news from Patrick Pacious. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Never mind that its $7.8 billion bid was publicly spurned in October or that three other proposals have also been rejected. Choice Hotels now wants to plead its case directly to Wyndham shareholders.
Choice Hotels, which owns a number of budget lodging brands, including Comfort Inn, is getting more aggressive in its attempt to acquire its rival Wyndham Hotels.
Choice Hotels is launching a hostile takeover offer for Wyndham Hotels & Resorts after repeated attempts to reach a deal with the rival hotel chain were rebuffed. Choice Hotels said ...
:max_bytes(150000):strip_icc()/GettyImages-1553925565-faf315b6df8e44cb82215313be5e9449.jpg)
Choice Hotels is offering Wyndham shareholders a combination of cash and equity valued at $90 a share as it lays the groundwork for a hostile takeover after a rejected bid last month.
After being rebuffed by the Wyndham Hotels & Resorts board of directors, Maryland-based Choice Hotels is taking its acquisition offer to Wyndham shareholders.