Wyndham Hotels & Resorts shares are trading higher after Choice Hotels proposed to acquire the company for $90.00 per share, payable in a mix of cash and stock. Wyndham rejected the proposal during Tuesday's session.
Portfolio Pulse from Benzinga Newsdesk
Choice Hotels has proposed to acquire Wyndham Hotels & Resorts for $90.00 per share, payable in a mix of cash and stock. However, Wyndham rejected the proposal.
October 17, 2023 | 4:13 pm
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Wyndham Hotels & Resorts rejected a proposal from Choice Hotels to be acquired for $90.00 per share.
The rejection of the acquisition proposal by Wyndham may lead to a short-term increase in its stock price as it indicates that the company believes it is worth more than the proposed price. This could attract investors who see potential for higher returns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100