[Breaking News] Starwood Accepts Counter Offer from Marriott!

Marriott has responded to last week’s offer by Chinese insurer Anbang. Marriott’s new offer is $13.6 billion which exceeds Angbang’s $13.2 billion offer from last week. Marriott’s original offer was $12.2 billion. Marriott justified it’s new higher offer citing increased efficiencies as a result of a proposed merger.

Our hope here at Thrifty Traveler is that Anbang will counter this offer and ultimately purchase Starwood. It is likely that the Starwood Preferred Guest (SPG) program would remain mostly intact with an Anbang purchase. If Marriott ultimately purchases Starwood, it is likely that the SPG program would be gutted when it is merged with Marriott’s program. Let the bidding war continue! Stay tuned!

 

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