Choice Terminates Bid for Rival Wyndham Hotels

Choice Hotels International has terminated its hostile bid for rival Wyndham Hotels & Resorts after failing to gather enough support from the target’s shareholders, the company said on Monday.

The company will also withdraw its nomination of independent director candidates for election at Wyndham’s 2024 annual meeting.

Shares of Wyndham fell 4.5% before the bell, while those of Choice were up 3%. Wyndham shares have gained about 10% since the bid was made public in October.

Read the source article at Yahoo Finance