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Anbang Submits New Offer To Starwood

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In the latest news from the Starwood saga, Anbang has submitted a new offer to Starwood to purchase the Hotel chain at $82.75 per share, almost $14 Billion in an all cash deal.  In contrast, the latest Marriott offer was worth about $13.6 Billion in a cash + stock deal, and because of changes in … Continue reading Anbang Submits New Offer To Starwood

The post Anbang Submits New Offer To Starwood appeared first on Miles Methods.



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I was under the impression (based on the previous article on the subject) that the most recently accepted Marriott bid contained an exclusivity clause that prohibited any further negotiation with Anbang? Apparently, that is not the case?

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I was under the impression (based on the previous article on the subject) that the most recently accepted Marriott bid contained an exclusivity clause that prohibited any further negotiation with Anbang? Apparently, that is not the case?

 

Apparently that's not the case.

 

The Anbang offer is hard to ignore though because it is all cash AND worth more than Marriott's offer of cash+stock.

 

Starwood would prefer to sell to Marriott, but there's no way that their shareholders would approve a deal with Marriott worth much less. At this point, Marriott needs to at least match the Anbang offer IMO.

Edited by mendelssohn

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Maybe they can throw Virgin to Anbang to satisfy it.

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I'd rather they buy SPG.

 

TBH I don't care who buys Virgin. Their rewards program could only be improved.

Edited by mendelssohn

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The newest wrinkle in this is that Marriott is NOT going to submit a higher bid.

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I'd rather they buy SPG.

 

...

It was supposed to be a subtly off color joke. :-)

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I'd rather they buy SPG.

 

...

It was supposed to be a subtly off color joke. :-)

Oh :lol:

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Yep, Cappy posted it in another thread here today.

 

It's only a matter of time before the SPG program is no more. I think we have at least 12 more months though.

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I read the Chinese side of the Anbang offer withdrawal today in China Peoples Daily English edition. I'll post it when I'm on a computer

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I read the Chinese side of the Anbang offer withdrawal today in China Peoples Daily English edition. I'll post it when I'm on a computer

CNBC was reporting it was mainly due to Chinese laws that prohibit large cash outflows out of the PRC. Anbang would have paid $14B for Starwood but the money would have to trickle out to the Western entities that currently control the stock. Also mentioned was the likely litigation of those who would use courts to block deals and use the "red scare" boogeyman to get any deal killed.

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On 9/13/2019 at 3:48 PM, cv91915 said:

What's the difference between anbang and mukbang?

They are on opposite sides of fingerbang?

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