Choice Hotels ends $8bn hostile takeover bid for Wyndham due to insufficient shareholder support.
Choice Hotels has ended its $8bn hostile takeover bid for Wyndham Hotels & Resorts, citing insufficient support from Wyndham shareholders. Despite months of negotiations, Wyndham rejected the proposal, calling it a "step backwards" and arguing that Choice was undervaluing Wyndham. Choice will now refocus on its standalone strategy and a share buyback program to provide value for its shareholders.
March 11, 2024
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