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Choice Hotels offers nearly $8B for rival Wyndham Hotels & Resorts as travel booms_我的网站
A | Choice Hotels International is asking shareholders of rival chain Wyndham Hotels & Resorts to sign off on a buyout worth nearly $8 billion after Wyndham broke off negotiations, the company said Tuesday. “A few weeks ago, Choice and Wyndham were in a negotiable range on price and consideration, and both parties have a shared recognition of the value opportunity this potential transaction represents, said Choice CEO Patrick Pacious. ”We were therefore surprised and disappointed that Wyndham decided to disengage. While we would have preferred to continue discussions with Wyndham in private, following their unwillingness to proceed, we feel there is too much value for both companies’ franchisees, shareholders, associates, and guests to not continue pursuing this transaction."Wyndham did not immediately respond to a request for comment early Tuesday. Choice, based in Rockville, Maryland, is offering $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own, a 20% premium to Wyndham's last closing price. Choice's proposal allows Wyndham shareholders to choose either cash, stock, or a combination of cash and stock. The proposal also includes giving Wyndham two seats on the combined company’s board. The deal has a total value of about $7.8 billion. When including debt, it's valued at approximately $9.8 billion. Choice first approached Wyndham in April, offering $80.00 per share, with 40% of that cash and 60% Choice stock, but was rejected, Choice said. It bumped the offer to $85 per share, then to $90 per share as the board chairs and CEOs of each company met. But, according to Choice, Wyndham voiced concerns about regulatory approval in September and also the value of Choice stock. Choice operates about 7,500 hotels in 46 countries. It's seeking to absorb a much larger chain in Wyndham, which operates nearly 9,300 hotels under a host of brands including Days Inn, Howard Johnson, La Quinta, Ramada, Super 8 and Travelodge. Wyndham, based in Parsippany, New Jersey, posted a profit of $355 million last year with revenue of $1.5 billion. Like most hotels, it has benefited from booming travel in recent years. The uptick in travel has lead to snarled airports and pilot shortages. That has cooled a bit this year as people become more cost conscious about their trips due to inflation and after spending more freely for more than a year. Wyndham's shares are up more than 170% since it stock price tumbled close to $25 each at the start of the pandemic. Shares of Wyndham Hotels & Resorts Inc. jumped more than 15% before the opening bell Tuesday, to $82.40. Shares of Choice Hotels International Inc. fell more than 2%.。 (횡성=연합뉴스) 26일 강원 횡성교육지원청에서 열린 교육혁신선도지역 추진 업무협약식에서 강삼영 교육감과 장신상 군수를 비롯한 참석자들이 협약서에 서명한 뒤 기념 촬영하고 있다. 앞줄 왼쪽부터 이경중 송호대 총장, 이현수 한국골프과학기술대 총장, 양선희 교육장, 강 교육감, 장 군수, 조창진 횡성인재육성장학회 이사장, 최현식 사회적협동조합 마을 이사장. 2026.8.26 [강원특별자치도교육청 제공. 재판매 및 DB 금지] [email protected]。
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