Sheraton owner Starwood set to accept offer from China's Anbang

March 18, 2016 2:01 PM

32 0

Sheraton owner Starwood set to accept offer from China's Anbang

Starwood Hotels & Resorts Inc (HOT.N), the operator of Sheraton and Westin hotels, said on Friday it planned to accept a raised buyout offer from a group led by China's Anbang Insurance and scrap its deal with Marriott International Inc (MAR.O).

A successful deal would bolster Anbang's reputation as one of China's top corporate acquirers and would follow its purchase of New York's iconic Waldorf Astoria hotel last year.

Also read: Conwert recommends accepting Vonovia takeover offer in cash

Read more

To category page

Loading...