{"id":73759,"date":"2023-10-17T20:02:18","date_gmt":"2023-10-18T00:02:18","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/choice-hotels-launches-hostile-bid-to-acquire-wyndham-hotels-for-90-per-share\/"},"modified":"2023-10-17T20:02:21","modified_gmt":"2023-10-18T00:02:21","slug":"choice-hotels-launches-hostile-bid-to-acquire-wyndham-hotels-for-90-per-share","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=73759","title":{"rendered":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share"},"content":{"rendered":"
\n

Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and lowering Choice shares by 5.3%. <\/p>\n

Choice
\n CHH,
\n -6.83%<\/bg-quote>
\n is offering to purchase Wyndham
\n WH,
\n +8.96%<\/bg-quote>
\n at a price of $90\u00a0per share, payable in a mix of cash and stock. The deal is valued at approximately\u00a0$7.8 billion\u00a0on a fully diluted basis and approximately $9.8 billion, with the assumption of Wyndham\u2019s net debt. <\/p>\n

\n

In a statement Choice said it is making its latest proposal public following Wyndham\u2019s decision to disengage from further discussions with Choice, adding that this follows nearly six months of talks. \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 said CEO Patrick Pacious said in the statement. \u201cWe were therefore surprised and disappointed that Wyndham decided to disengage.\u201d <\/p>\n

Related:<\/strong> Choice Hotels affirms full-year profit outlook, as first-half hotel opening rose 39%<\/p>\n

\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 he added. \u201cImportantly, we remain convinced of both the many benefits of the combination and our ability to complete it.\u201d<\/p>\n

Wyndham released a statement Tuesday saying that its board of directors has unanimously rejected Choice\u2019s proposal. \u201cChoice\u2019s offer is underwhelming, highly conditional, and subject to significant business, regulatory and execution risk. \u00a0Choice has been unwilling or unable to address our concerns,\u201d said Stephen P. Holmes, chairman of the Wyndham board, in the statement. \u00a0\u201cWhile our Board would support a value-maximizing transaction, given the substantial, unmitigated embedded risks and value destruction potential presented by the proposed transaction, our Board determined it is not in the best interests of Wyndham shareholders.\u201d<\/p>\n

In April 2023,\u00a0Choice sent its initial letter to Wyndham regarding a potential transaction, proposing to acquire Wyndham for $80 per share. That offer comprised 40% cash and 60% Choice stock. Wyndham rejected the proposal and refused to engage in further discussions, according to Choice, which subsequently increased its proposal to $85 per share, comprising 55% cash and 45% Choice stock.<\/p>\n

Related:<\/strong> Choice Hotels to acquire Radisson Hotel Group Americas in deal valued at about $675 million <\/p>\n

\u201cThe companies\u2019 respective Board Chairs and CEOs then met in person, and following that meeting, Choice improved its proposal yet again,\u201d Choice said in its statement, noting that the $90 per share bid, which comprises 55% cash and 45% Choice stock, is the company\u2019s \u201cbest and final offer.\u201d <\/p>\n

Last year Choice acquired Radisson Hotel Group Americas in a deal valued at about $675 million. <\/p>\n

Choice shares have risen 5.2% in 2023, while Wyndham shares have gained 3.9%, compared with the S&P 500 index\u2019s
\n SPX
\n 14.2% gain.<\/p>\n<\/p><\/div>\n<\/div>\n

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

Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and lowering Choice shares by 5.3%. Choice CHH, -6.83% is offering to purchase Wyndham WH, +8.96% at a price of $90\u00a0per share, payable in a mix of cash and stock. The deal is […]<\/p>\n","protected":false},"author":1,"featured_media":73760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-73759","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nChoice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=73759\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=73759\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-18T00:02:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-18T00:02:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1697587339_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=73759#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=73759\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share\",\"datePublished\":\"2023-10-18T00:02:18+00:00\",\"dateModified\":\"2023-10-18T00:02:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=73759\"},\"wordCount\":483,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=73759#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=73759\",\"url\":\"https:\/\/ifintechworld.com\/?p=73759\",\"name\":\"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-18T00:02:18+00:00\",\"dateModified\":\"2023-10-18T00:02:21+00:00\",\"description\":\"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=73759#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=73759\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=73759#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld","description":"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=73759","og_locale":"en_US","og_type":"article","og_title":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld","og_description":"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and","og_url":"https:\/\/ifintechworld.com\/?p=73759","og_site_name":"iFintechWorld","article_published_time":"2023-10-18T00:02:18+00:00","article_modified_time":"2023-10-18T00:02:21+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1697587339_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=73759#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=73759"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share","datePublished":"2023-10-18T00:02:18+00:00","dateModified":"2023-10-18T00:02:21+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=73759"},"wordCount":483,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=73759#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=73759","url":"https:\/\/ifintechworld.com\/?p=73759","name":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-18T00:02:18+00:00","dateModified":"2023-10-18T00:02:21+00:00","description":"Choice Hotels International Inc. is launching a hostile bid to acquire Wyndham Hotels & Resorts Inc., sending Wyndham\u2019s stock rising 7.2% Tuesday and","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=73759#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=73759"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=73759#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Choice Hotels launches hostile bid to acquire Wyndham Hotels for $90 per share"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/73759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=73759"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/73759\/revisions"}],"predecessor-version":[{"id":73761,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/73759\/revisions\/73761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/73760"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=73759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=73759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=73759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}