BREAKING: Starwood Signs Deal To Be Acquired By Chinese Investors

By: Ben Schlappig

Published: March 18, 2016

29 comments

WOW!

Earlier this morning I wrote about how we haven’t yet received an update from Starwood regarding the takeover bid they received on Monday from Chinese investor group Anbang.

They offered $76 in cash per share, which was almost certainly better than the offer of 0.92 Marriott shares plus $2 per Starwood share. While the merger between Marriott and Starwood is already well underway, Starwood can still pursue other offers for the time being.

Well we now have an update, literally as of a few minutes ago… and it’s a huge one. Starwood has signed a deal to be acquired by Chinese investor group Anbang for $78 per share in cash.

Marriott now has five days to respond, and is apparently expected to make a counter-bid.

We have ourselves a bidding war. This is going to get interesting!

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tara Guest

March 22, 2016, 5:27 pm

Anil, you are waaaaay out of line. Legitimate complaints about the US losing assets, jobs, and other things that are crucial to the success of our economy and country as a whole does not amount to "racist hate speech". Your comment is a gross, illogical, and overly emotional exaggeration. Shame on you for employing bully language to suppress a rational conversation. That said, it appears Marriott has ultimately won the bidding war.

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Anil Guest

March 20, 2016, 6:11 am

Lucky - why do you tolerate so much racist hate speech on your blog?

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Andy Diamond

March 20, 2016, 5:00 am

Good news in my view. I always had strong doubts about the Marriott-SPG integration. Their cultures are extremely different - which is confirmed by the strong feelings of their loyal customers, respectively. I'm an SPG person and I don't like to stay at Marriott hotels - but I do accept that there are others who see it right the other way around. So keeping them independent definitely makes sense from a marketing perspective. In respect of the spying ... I would suggest a brief reality check: It was mostly the US (namely NSA and its sister organizations) who spied out the world, in particular allied heads of state (e.g. the German Chancellor). But as already chancer said, if you are not a head of state, what is the damage? I'm sure NSA has a detailled list of all my dinner appointments - but so what?

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Bill Member

March 19, 2016, 9:57 pm

@DCS - Ideally we do hope that Anbang does keep a hands off management style. But I'm still not convinced. Chinese companies Are not known for hands off styles but there could be a first time for everything.

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Jon Guest

March 19, 2016, 8:40 am

Damn, why so much hate against the Chinese? Not sure how Chinese ownership would suddenly mean widespread bugging of rooms? If that were true, people would stop staying at starwood properties, now wouldn't they? Seems like an awful lot of money to waste.

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