Mar
14
Marriott-Starwood Deal Is Interrupted by a Chinese Suitor
By
Starwood said that its board of directors had not changed its recommendation in support of the Marriott dealCreditDamian Dovarganes/Associated Press
Around two years ago, the Anbang Insurance Group, an insurer then little known outside of China, announced that it would buy the fabled Waldorf Astoria for $1.95 billion.
Now, the Chinese insurer hopes to expand its hotel empire with an unsolicited bid to acquire Starwood Hotels & Resorts Worldwide, the operator of the hotel brands Westin, W and Sheraton, for $76 a share in cash, or $12.8 billion in total…
Marriott-Starwood Deal Is Interrupted by a Chinese Suitor
