Starwood weighs improved takeover bid from China's Anbang
China
New York - AFP
Starwood Hotels & Resorts said Monday it was weighing an improved takeover bid from a group led by Chinese insurer Anbang rivaling its agreed deal with Marriott International.
In the latest turn in the bidding war for the US hospitality company, Starwood said the consortium led by Anbang Insurance proposed Saturday a cash offer $14 billion, topping Marriott's $13.6 billion bid which the Starwood board is still recommending.
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