Deal will create world’s largest hotel chain after revised Marriott offer tops that of China’s Anbang Insurance Group
Marriott International has had a higher offer accepted for Starwood Hotels and Resorts Worldwide, valuing the Sheraton and Westin hotel owner at more than $13bn.
The new stock-and-cash offer is worth $79.53 (£55) per share, or $13.6bn, and tops an all-cash $78 per share, or $13.16bn, offer from a group led by China’s Anbang Insurance Group.
Related: Chinese investors rival Marriott with $14bn offer for Starwood hotel chain
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