Wyndham continues to shoot down Choice Hotels' buyout efforts

Wyndham has rebuffed Choice Hotels latest buyout attempt, calling it's most recent outreach "a step backwards"

Nov 22, 2023

After months of negotiation between the budget hotel owners, Wyndham's board received a letter from Choice CEO Patrick Pacious on Nov. 14, seeking a restart to talks.

Choice in the letter has not boosted its cash-and-stock offer, currently worth $86 a share, which is down from $90 per share offer after a decline in Choice's shares since the takeover offer was made public in October.

"Choice continues to ignore our major concerns around value, consideration mix, and asymmetrical risk to our shareholders given the uncertainty around regulatory timeline and outcome," Stephen Holmes, Chairman of Wyndham's board said on Tuesday.

Get the full story at Reuters

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