Raymond James Downgrades Starwood Hotels & Resorts (HOT) to Market Perform
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Marriott (MAR) Comments on Starwood (HOT) Merger News; Will Review Anbang's Revised Proposal
March 18, 2016 9:13 AM EDTMarriott International, Inc. (Nasdaq: MAR) has been informed by Starwood Hotels and Resorts Worldwide (NYSE: HOT), and Starwood has announced publicly, that the Starwood Board of Directors has determined that it considers an Anbang consortium proposal to acquire Starwood to be a "Superior Proposal" to Marriott's existing... More
Starwood Hotels (HOT) Says Revised Offer from Anbang Group is 'Superior Proposal'
March 18, 2016 8:44 AM EDTStarwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) announced that it has received a revised binding and fully financed proposal from a consortium consisting of Anbang Insurance Group Co., Ltd., J.C. Flowers & Co. and Primavera Capital Limited, that the Starwood Board of Directors, in consultation with its legal and financial advisors, has determined constitutes a Superior Proposal, as defined in Starwoods merger agreement with Marriott International, Inc. (Nasdaq: MAR).
Under the terms of the Consortiums proposal, which contains definitive documentation, the Consortium would acquire all of... More
