Anbang Chinese of The revised upwards its tender offer for the shares of Starwood Hotels & amp; Resorts for $ 82.75 per share, an offer of 14 billion dollars. The new proposal again puts the consortium led by the insurer in the race for the purchase of the group of hotels with Marriott.
After the Marriott has improved its offer by Starwood, beating the initial offer of the consortium led by the Chinese Anbang, the group also increased the amount you’re willing to pay for Starwood, thus reopening the competition for acquisition of the company.
Starwood advances in a statement that initiated discussions with the consortium on 26 March and in these discussions, the group led by Anbang revised upwards its tender offer for $ 82.75 per share cash.
in its first offer the Chinese insurer who was in the race to the New Bank offered $ 78 per share Starwood hotels, which evaluated the chain of hotels in 13,170 million. Marriot already offered $ 75.91 per share, a value that values the company at 12.8 billion dollars.
“Starwood and the consortium are discussing terms not related the price, “says the same document, which states that the new offer will lead to a” superior offer “, allowing the hotel chain initiate discussions with Anbang.
the group of hotels also said it will examine this new offer in order to determine whether the proposal is the best solution for Starwood and its shareholders. The company’s shares rise 2.5% to $ 84.16.
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