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Wyndham Rejects Choice Hotels' Takeover Bid That Could Shake Up Budget-Hotel Industry

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Choice Hotels launches an unsolicited bid to buy Wyndham for $90 a share.

Wyndham Hotels & Resorts said its board unanimously rejected an unsolicited proposal from Choice Hotels International to acquire the hotel chain for $90 a share in cash and stock.

Wyndham stock was gaining 7.6% to $74.33, while Choice Hotels shares slid 5%. Marriott International rose 1% as did Hilton Worldwide Holdings .

 

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Wyndham Hotels Rejects Takeover Approach From Choice HotelsProposal made public by Choice Tuesday involves significant business and execution risk, Wyndham executives said
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