Big Law

Wyndham Asks Shareholders to Reject Choice Hotels’ Takeover Offer

Budget hotel operator Wyndham Hotels & Resorts on Monday asked its shareholders to reject Choice Hotels takeover offer, citing regulatory review of up to 24 months and lower valuation.

Last week, Choice launched a hostile bid for Wyndham after the New Jersey-based hotel repeatedly rebuffed the overtures.

“We are confident Wyndham can deliver long-term shareholder value well in excess of the $85 per share offered by Choice by continuing to execute on our existing business plan” said Stephen Holmes, chairman of the Wyndham Board.

Read the source article at Yahoo Finance

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