Choice Hotels nominates board directors in hostile Wyndham bid

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Business & FinanceDeals

Reuters was first to report that Choice Hotels International (CHH.N), pressed ahead with its $8 billion hostile bid for Wyndham Hotels & Resorts (WH.N), opens new tab on Monday by nominating a slate of directors to replace Wyndham’s eight-member board. 

Market Impact

Choice has said it is confident it can secure antitrust clearance for the deal, arguing that the two companies together account for only 10% of U.S. room revenue, and has projected that the combined company would generate about $1 billion of free cash flow in 2024, allowing it to quickly pay down debt and invest in its business.

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & FinanceMergers & Acquisition

Regions: Americas

Win Types: Speed

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Important Regional Story

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