Choice’s Hostile Bid for Wyndham: 6-Month Timeline
Photo Credit: A Wyndham hotel in downtown Pittsburgh, Pennsylvania, at night. Flickr / Tony Webster
Skift Take
Choice is confident it can sell its offer to Wyndham shareholders without the opinion of Wyndham executives.
Choice Hotels launched a bid Tuesday to acquire Wyndham Hotels & Resorts for $90 a share - a hostile offer that would create the largest budget hotel franchise in North America. Wyndham has rejected Choice's bid.
This is only Choice's latest move – its run at Wyndham goes back to the spring. Both Choice and Wyndham released lengthy documents Tuesday that detailed their version of events. Choice says it is making a fair offer; Wyndham is stressing the offer was unsolicited and undervalues its business.
Below is a timeline based on their documents and Skift's reporting.
April 2023: Choice Makes First Offer for WyndhamOn April 28, Choice made its first offer to acquire Wyndham. The bid: $80 per share with 40% in cash and 60% in Choice shares.
May: Wyndham Rejects First Offer, Choice Tries AgainOn May 9, Wyndham responded to Choice's first offer, stating it "substantially undervalued Wyndha
