📢 M&A News Alert! Choice Hotels has confirmed its intent to acquire Wyndham Hotels & Resorts. Here are some key takeaways: 1️⃣ The Offer: Choice Hotels has proposed $90 per share to Wyndham shareholders, totaling nearly $8 billion. This offer is a 26% premium to Wyndham's 30-day volume-weighted average closing price. 2️⃣ The Brands: While Wyndham operates over 9,300 hotels (including Days Inn, Howard Johnson, and more), Choice has a portfolio of about 7,500 hotels (brands like Comfort Suites, Cambria Hotels). 3️⃣ The Dialogue: After initial offers starting at $80/share, progressing to $85, and finally $90, Choice was disappointed with Wyndham's decision to halt discussions. Patrick Pacious, Choice Hotels President and CEO, expressed the potential value for all stakeholders in a combined entity and the company's commitment to pursuing this acquisition. 4️⃣ Terms & Benefits: The proposal allows shareholders flexibility in compensation (cash, stock, or both) and offers Wyndham two board seats at Choice. #wyndhamhotels #choicehotels #hospitality #hotel #travelindustry https://lnkd.in/gDXM_v6r Stay tuned for more updates on this potentially transformative deal in the hospitality industry!
