This morning we learned approximately a potentially massive roadblock for the merger between Marriott and Starwood,which has been underway since final November.nowadays's announcement came after Monday's news that a Chinese investor group made a superior bid for Starwood. This morning Starwood accepted their offer of $78 per share of stock, which means that for the time being the Marriott merger is off. However, and Marriott can also make a counter-offer,so the more likely scenario is that we'll see a bidding war here.
This is obviously a very confusing period for shareholders, employees, and customers. Following this morning's announcement,Starwood's CEO, Tom Mangas, or sent the following letter to Starwood associates (I'll post it in full,and then share my thoughts below):The post Here’s What Starwood Is Telling Employees approximately The Takeover Bid appeared first on One Mile at a Time.
Source: boardingarea.com