Marriott (MAR) Ratings Affirmed by Moody's Amid Revised Starwood Offer
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Canaccord Genuity Raises Price Target on Starwood Hotels (HOT) Following New Marriott (MAR) Offer
March 23, 2016 10:20 AM EDTCanaccord Genuity reiterated a Buy rating on Starwood Hotels & Resorts (NYSE: HOT), and raised the price target of $88.00 (from $76.00), following a new MAR offer. UBS believes that MAR's current offer of $21 in cash and 0.80 MAR shares for every HOT share is the most attractive offer on the table today. Any further offer from Anbang would need to be at or above this... More
Marriott wins back Sheraton-owner Starwood with new offer
March 21, 2016 7:17 AM EDTBy Mike Stone and Arunima Banerjee
(Reuters) - Starwood Hotels and Resorts Worldwide Inc (NYSE: HOT), owner of the Sheraton and Westin brands, accepted a higher $13.6 billion acquisition offer from peer Marriott International Inc (NASDAQ: MAR), spurning a bid from China's Anbang Insurance Group.
The move dramatically raises the stakes in the bidding war since the deal with Marriott prohibits Starwood from communicating with Anbang, which already owns New York's Waldorf Astoria hotel.
If Anbang had succeeded with its offer, the... More
Marriott (MAR) Reaffirms FY16 RevPAR, Unit Growth Outlook
March 21, 2016 7:16 AM EDTMarriott International, Inc. (Nasdaq: MAR) announced that it continues to expect strong RevPAR and unit growth in 2016. The company expects comparable systemwide RevPAR on a constant dollar basis in North America, outside North America and worldwide will increase 2 to 4 percent in the first... More
