China’s Anbang Insurance Group Co raised its offer for Starwood Hotels & Resorts Worldwide Inc (HOT.N) to almost $14 billion in attempts to challenge Starwood’s merger with Marriott International Inc (MAR.O).

Bill Crow, an analyst at Raymond James said:

“Marriott has the financial capacity and the wherewithal to push its bid up higher. However, so much of the transaction is based on Marriott’s current share price, I think investors would be less than thrilled if it increased its offer materially at this juncture,”

If the offer is accepted, it will be the largest ever takeover by a Chinese company in the United States.

Starwood shares were trading up 2.4 percent at $84.07 on Monday. Marriott shares were up 4 percent to $71.40.

 

29/03/2016