Starwood's losing bidder may find consolation in European sector
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London
THE intensifying bid battle for Starwood Hotels may raise the chances that a deal for a European hotelier will mark a new stage of consolidation in the industry.
Connecticut-based Starwood is weighing a US$14 billion non-binding all-cash bid proposal from China's Anbang, which is looking to break its target's merger agreement with Marriott, headquartered in Maryland. For whichever of the pair ends up losing out on Starwood, Europe offers a logical plan B.
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