Unsolicited takeover offer for Starwood could upset merger with Marriott

March 14, 2016 2:33 PM

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Unsolicited takeover offer for Starwood could upset merger with Marriott

STAMFORD, Conn., March 14 (UPI) -- Starwood Hotels & Resorts Worldwide Inc., which agreed to a merger with Marriott International Inc. last year, has received an unsolicited takeover offer from a Chinese consortium.

The Starwood-Marriott deal would create the world's largest hotel chain, but Monday Starwood announced another offer to buy the company at $76 per share, or about $12.9 billion. A statement from Marriott on Monday identified the proposed new buyer as a group led by Beijing-headquartered Anbang Insur...

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