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If you thought the drama playing out between Starwood, Marriott, and Anbang was already complicated enough, wait until you read this.
Deanna Ting, Skift | 8 years ago
Unlike Marriott, Starwood doesn’t need to be as persuasive in its communications with shareholders about the new deal. It just has to give them the facts and urge them to vote in line with the board’s recommendation. Instead, it can wait to see if a better offer comes up unexpectedly which, if history has shown, is still a definite possibility.
Money talks, and Anbang seems to have a lot more of it to spend right now than Marriott is willing to give up to keep Starwood.
Marriott was able to make an offer when many doubted it could muster what it takes.
Marriott needs to figure out just how badly it wants Starwood. And Starwood needs to figure out what's better for them in the short term (Anbang) versus the long term (Marriott, maybe).
Better for Starwood employees and better for investors — at least in the short term.
The Marriott-Starwood deal is Marriott's to lose if this rival takeover bid proves to be binding.
This is going to be a very busy week for Starwood.
Three of the named entities involved in the takeover bid for Starwood don't have much experience in the hotel business, but that won't keep them from buying Starwood.