Happy New Year! Wishing all of you a wonderful 2024.
Wyndham Hotels & Resorts (WH) $80.41
Considering M&A activity slowed down significantly during a holiday shortened week, I figured I would briefly touch upon a pre-merger situation. The hostile acquisition of Wyndham Hotels & Resorts (WH) by Choice Hotels International (CHH) entered a new phase in late December when in an unusual move, Choice Hotels decided to start working with the FTC for regulatory approval of the deal. Choice Hotels has already engaged with institutional shareholders that hold over 40% of shares outstanding.
We have been tracking this potential deal in our Deals In The Works (DITW) since May 23, 2023 when the Wall Street Journal reported that Choice wanted to buy Wyndham. The evolution of this potential deal was covered in the tool as follows:
October 17, 2023: Choice Hotels International announced a proposal to acquire all the outstanding shares of Wyndham Hotels & Resorts at a price of $90 per share, payable in a mix of cash and stock.