Science & Environment
Choice Hotels nominates board directors in hostile Wyndham bid…
Business & FinanceDeals
22 January 2024, 9:20 pm 1 minute
Reuters was first to report that Choice Hotels International (CHH.N), pressed ahead with its $8 billion hostile bid for Wyndham Hotels & Resorts (WH.N), opens new tab on Monday by nominating a slate of directors to replace Wyndham’s eight-member board.
Market Impact
Choice has said it is confident it can secure antitrust clearance for the deal, arguing that the two companies together account for only 10% of U.S. room revenue, and has projected that the combined company would generate about $1 billion of free cash flow in 2024, allowing it to quickly pay down debt and invest in its business.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & FinanceMergers & Acquisition
Regions: Americas
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
