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Marriott-Starwood deal is interrupted by a Chinese suitor

from The New York Times

Around two years ago, the Anbang Insurance Group, an insurer then little known outside of China, announced that it would buy the fabled Waldorf Astoria for $1.95 billion. Now, the Chinese insurer hopes to expand its hotel empire with an unsolicited bid to acquire Starwood Hotels & Resorts Worldwide, the operator of the hotel brands Westin, W and Sheraton, for $76 a share in cash, or $12.8 billion in total. more


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