In the latest developing saga of who will end up with Starwood, Bloomberg Business is out this morning with the news that the Anbang Group has made a revised proposal for $82.75/share in their article, “Starwood Says Anbang Group Made Revised Proposal for $82.75/Share.”
As we have posted, Marriott and The Chinese Anbang Group have been going back and for with bids for Starwood for the past several weeks.
Chinese Anbang Group Bids Again For Starwood!
You can follow those posts here:
- Goodbye Starwood Preferred Guest? I Will Miss You!
- HOT: Starwood Recieves Bid From Chinese Company
- Starwood Agrees To China’s Anbang Purchase
- Starwood Accepts Marriott’s New Offer
It will definitely be interesting to see how this shakes out with people on both sides of the isle hoping for the best outcome for SPG members. It doesn’t look like either Marriott nor Anbang plan to give up any time soon. You can read SPG’s statement here, “STARWOOD HOTELS & RESORTS BOARD OF DIRECTORS DETERMINES REVISED PROPOSAL FROM CONSORTIUM CONSISTING OF ANBANG INSURANCE GROUP, J.C. FLOWERS AND PRIMAVERA CAPITAL IS REASONABLY LIKELY TO LEAD TO A “SUPERIOR PROPOSAL.””