You don’t hear about large Chinese companies acquiring US companies often. There are plenty of folks in the know that say the Chinese haven’t really had the experience on big stages for mergers & acquisitions. Is that what was at play in the failed attempt to acquire Starwood?
In the almost daily soap opera that was the struggle for control of Starwood Hotels, Anbuang has walked away from the bidding process as the highest bidder. It’s a bit surprising to see Anbang pull out this quickly after making their most recent offer. We now have more clarity around the future of Starwood Preferred Guest.
Does Marriott have any more ammunition left for another offer on Starwood Hotels? Anbang has moved into a superior position again in the quest for Starwood less than 10 days from a shareholder vote on the Marriott offer.
It seems like every day we’re either talking about Marriott and SPG or travel to Cuba. The big story this morning is Marriott increasing their offer to buy Starwood Hotels.