Choice Hotels shares are trading higher after the company announced the expiration of the exchange offer to acquire Wyndham Hotels & Resorts and said it intends to continue focusing on its standalone strategy.
Portfolio Pulse from Benzinga Newsdesk
Choice Hotels' shares rose following the announcement of the expiration of their exchange offer to acquire Wyndham Hotels & Resorts. The company plans to continue with its standalone strategy.
March 11, 2024 | 3:45 pm
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Choice Hotels' stock price increased after the company announced the end of its attempt to acquire Wyndham Hotels & Resorts, opting to pursue its standalone strategy.
The increase in Choice Hotels' stock price can be attributed to investor optimism about the company's decision to focus on its standalone strategy rather than pursuing an acquisition. This move may be seen as a positive step towards concentrating on internal growth and operational efficiencies.
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