Choice Hotels International Inc (NYSE: CHH) has commenced an exchange offer to acquire Wyndham Hotels & Resorts, Inc (NYSE: WH) to present its proposal directly to Wyndham shareholders.
Choice currently holds approximately 1.5 million shares of Wyndham common stock, valued at more than $110 million.
The exchange offer maintains the previously proposed offer to Wyndham, of $49.50 in cash and 0.324 shares of choice common stock per Wyndham share.
Choice made a proposal privately to Wyndham on November 14, 2023. Instead of discussing the terms of such a proposal with Choice, Wyndham publicly rejected the Full story available on Benzinga.com