Starwood Hotels gets rival bid from Anbang consortium

Berlin

STARWOOD Hotels & Resorts Worldwide Inc, which is being bought by Marriott International Inc, has received a separate, unsolicited takeover proposal from a group of companies led by China's Anbang Insurance Group Co.

The proposal is for US$76 per share in cash for all of the company's outstanding shares, Starwood said in a statement on Monday. That values Stamford, Connecticut-based Starwood at about US$12.9 billion, based on its estimate of 170 million shares.