As announced earlier this week, another player entered what seemed like an already set in stone deal between Starwood Hotels & Resorts Worldwide and Marriott International that has shook up the travel industry. As outlined in a prior post, the relatively unknown fully financed Beijing-based Anbang Insurance Group had submitted an initial offer for $76 a share which was already higher than Marriott's offer and they just upped the ante to $78 per share which equates to buyout of around $13.2 billion.
Showing posts with label merger. Show all posts
Showing posts with label merger. Show all posts
Friday, March 18, 2016
Monday, March 14, 2016
Things just got interesting with the Starwood buyout
As many people have already probably heard by now, there has been another offer on the table for the upcoming Starwood acquisition that was announced earlier today. The offer came from Beijing-based Anbang Insurance Group which is largely unknown in the US but did make headlines when they bought New York's Waldorf Astoria for $1.95 billion back in October 2014 which was the largest-ever U.S. real estate purchase by a Chinese buyer at the time.
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