Choice Hotels International Inc. offered to buy Wyndham Hotels & Resorts Inc. in a deal that would combine large companies in the affordable hotel space with brands including Super 8 and Quality Inn. Choice is offering to pay $90 a share in cash and stock, in a deal valued at about $9.8 billion including the assumption of debt, according to a statement Tuesday. The deal price is 30% above the $69.10 that Wyndham’s stock price closed at Monday, and an 11% premium to the stock’s 52-week high, according to the statement. While the companies have discussed the potential transaction for months, Wyndham’s decision to break off negotiations prompted Choice to take its offer public, the company said. 'We have long respected Wyndham’s business and are confident that this combination would significantly accelerate both Choice’s and Wyndham’s long-term organic growth strategy,' Choice Chief Executive Officer Patrick Pacious said in the statement." #choicehotels #wyndhamhotels #finance #mergersandacquisitions #corporatefinance #equipmentfinance #equipmentleasing #financialservices https://lnkd.in/gYn2k7_F
