Marriott-Starwood: Anbang keeps the suspense going

Marriott's takeover of Starwood, which seemed to be on track a few days ago, is now in doubt. A "superior offer" from China's Anbang has prompted Starwood's management to think again. The verdict will be announced on March 28.
Marriott's acquisition of Starwood called into question by a Chinese bid

"Marwood", "Stariott": the nicknames attributed to the future giant of the hotel industry had already been coined by the international press. The acquisition was a foregone conclusion... But that was without counting on a new protagonist straight from the Middle Kingdom: the Chinese insurance group Anbang has therefore submitted a "superior" offer to that of Marriott, with a view to acquiring the other American hotelier: Starwood. However, it's not over yet, as the agreement previously reached between the two hoteliers leaves Marriott some room for manoeuvre. 28 March at midnight next week. For its part, Starwood has undertaken to negotiate " in good faith "Marriott reaffirmed its acquisition plans in a press release. Marriott subsequently reaffirmed its acquisition ambitions, stating in a press release that the hotel group " continues to believe that the combination of Marriott and Starwood would be the best solution for both companies and deliver the most value to Starwood shareholders ".