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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