Choice Hotels International, Inc. (NYSE: CHH) is urging the stockholders of Wyndham Hotels & Resorts, Inc. (NYSE: WH) to tender their shares into the exchange offer ahead of its expiration at 5:00 p.m. ET on Friday, March 8, 2024. The proposed value of the offer stands at $90 per share, representing a multiple far in excess of what Wyndham has been able to achieve as a stand-alone business.
Over the past several months, Choice has made significant progress addressing regulatory requests and offered above-market regulatory protections, including a significant reverse termination fee and ticking fee.
The resounding feedback from stockholders is that they would like to see Choice and Wyndham genuinely explore a value-maximizing transaction in a constructive manner. Unfortunately, Wyndham has been unwilling to provide any feedback on specific transaction terms that its board might find acceptable.
Choice Hotels International, Inc. is one of the largest lodging franchisors in the world, with nearly 7,500 hotels representing almost 630,000 rooms in 46 countries and territories. Their diverse portfolio of 22 brands meets travelers’ needs in more places and for more occasions while driving more value for franchise owners and shareholders.
Today the company's shares have moved 4.6% to a price of $114.62. For the full picture, make sure to review Choice Hotels International's 8-K report.
