{"id":73542,"date":"2023-10-17T08:18:35","date_gmt":"2023-10-17T12:18:35","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/choice-hotels-international-presents-bid-to-acquire-wyndham-hotels-resorts\/"},"modified":"2023-10-17T08:18:39","modified_gmt":"2023-10-17T12:18:39","slug":"choice-hotels-international-presents-bid-to-acquire-wyndham-hotels-resorts","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73542","title":{"rendered":"Choice Hotels International Presents Bid to Acquire Wyndham Hotels & Resorts"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Shares of
\n Wyndham Hotels & Resorts
\n were rising sharply in premarket trading Tuesday after
\n Choice Hotels International
\n announced a proposal to acquire the hotel chain for $90 a share in a cash-and-stock deal.<\/p>\n

Under the proposal \u2014 which would combine two of the biggest names in the budget-hotel sector \u2014 the $90 a share would be comprised of $49.50 in cash and the rest in stock. The proposal implies a total equity value for Wyndham of about $7.8 billion on a fully diluted basis. With the assumption of the company\u2019s net debt, the proposed transaction is valued at about $9.8 billion. <\/p>\n

\n

Wyndham (ticker: WH) stock was soaring 13%, while
\n Choice Hotels
\n (CHH) shares slid 6.4% in premarket trading.
\n Marriott International
\n pointed 0.3% lower ahead of the open, and
\n Hilton Worldwide Holdings
\n (HLT) was flat, while
\n Intercontinental Hotels Group<\/span>
\n (IHG.U.K) rose 2.7% in London trading<\/p>\n

The latest proposal arrives publicly after Wyndham\u2019s \u201cdecision to disengage from further discussions\u201d with Choice after almost six months of conversations, according to a press release.<\/p>\n

\u201cA few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents,\u201d Choice President and CEO Patrick Pacious said in the release. <\/p>\n

\u201cWe were therefore surprised and disappointed that Wyndham decided to disengage,\u201d he continued. \u201cWhile we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies\u2019 franchisees, shareholders, associates, and guests to not continue pursuing this transaction.\u201d<\/p>\n

Write to Emily Dattilo at emily.dattilo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Wyndham Hotels & Resorts were rising sharply in premarket trading Tuesday after Choice Hotels International announced a proposal to acquire the hotel chain for $90 a share in a cash-and-stock deal. Under the proposal \u2014 which would combine two of the biggest names in the budget-hotel sector \u2014 the $90 a share would […]<\/p>\n","protected":false},"author":1,"featured_media":73543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-73542","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nChoice Hotels International Presents Bid to Acquire Wyndham Hotels & Resorts | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Wyndham Hotels & Resorts were rising sharply in premarket trading Tuesday after Choice Hotels International announced a proposal to acquire\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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