Anbang makes binding Starwood Hotels bid
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Seattle
STARWOOD Hotels & Resorts Worldwide Inc, owner of brands such as Westin, Sheraton and W, said it received a binding US$13.2 billion takeover bid from a group led by China's Anbang Insurance Group Co, a superior offer to one by Marriott International Inc.
Anbang and its partners will pay US$78 a share in cash for Starwood, according to a statement on Friday.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
