Wyndham Confirms Receipt And Review Of Unsolicited Exchange Offer From Choice
Portfolio Pulse from Benzinga Newsdesk
Wyndham Hotels & Resorts (NYSE:WH) has received an unsolicited exchange offer from Choice Hotels International, Inc. (NYSE:CHH) to acquire all outstanding shares of Wyndham at approximately $86 per share. The offer is unchanged from a previous proposal that Wyndham's Board rejected due to concerns over antitrust approval, undervaluation, and the impact of Choice's leverage. Wyndham's Board, with advisors, will review the offer and advise shareholders within ten business days. Shareholders are urged not to take action until then. Choice owns less than 1.7% of Wyndham's stock and is restricted from further purchases without antitrust approval.

December 12, 2023 | 2:47 pm
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NEUTRAL IMPACT
Choice Hotels has commenced an exchange offer to acquire Wyndham Hotels & Resorts at $86 per share, owning less than 1.7% of Wyndham's stock and facing antitrust restrictions.
Choice's stock may be influenced by the market's perception of the deal's value and the potential antitrust hurdles. The short-term impact is neutral until more information is available.
CONFIDENCE 75
IMPORTANCE 85
RELEVANCE 80
NEUTRAL IMPACT
Wyndham Hotels & Resorts received an unchanged unsolicited offer from Choice Hotels to acquire all outstanding shares at $86 each. The Board is reviewing the offer and will advise shareholders soon.
The impact on Wyndham's stock is uncertain as the offer is unchanged and previously rejected. The Board's upcoming recommendation will be crucial in determining the short-term stock movement.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100