Newspaper article St Louis Post-Dispatch (MO)

Hungry for U.S. Assets, China's Anbang Bids $15 Billion for Starwood (Print Version)

Newspaper article St Louis Post-Dispatch (MO)

Hungry for U.S. Assets, China's Anbang Bids $15 Billion for Starwood (Print Version)

Article excerpt

NEW YORK * The share price for Starwood Hotels rocketed higher after an offer from China's Anbang and its partners crossed the $15 billion mark in a fight for control with Marriott International.

Starwood Hotels & Resorts Worldwide Inc., which has a tony stable of hotels including the St. Regis New York, said Monday that the offer from the Anbang group is "reasonably likely" to be superior to the one made just last week by Marriott.

On Monday, Marriott said in a letter that shareholders of Starwood should give serious consideration not only to financing an offer of such size, but also to "the timing of any required regulatory approvals."

While Marriott said it would not comment outside of that letter, it appeared to be alluding to hurdles that a Chinese company would have in acquiring Starwood. …

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