Undeterred, Choice Hotels gradually upped the ante, increasing their proposal to $85 per share, with 55% cash and 45% Choice stock in the mix. Nevertheless, Wyndham continued to hold its ground firmly.
The Unyielding Wyndham
Stephen P. Holmes, with the aura of a seasoned player, declared that Choice had been “unwilling or unable to address our concerns,” signaling a pivotal moment in this high-stakes game of corporate brinkmanship.
Behind the scenes, Moelis & Company LLC and Wells Fargo were deftly orchestrating Choice’s financial strategies, adding a dash of mystique to the negotiations.
Wyndham Rejects $7.8B Offer : A Clash of Titans
Choice Hotels, with its vast empire spanning nearly 7,500 hotels across 46 countries and territories, stood as a formidable force. Meanwhile, Wyndham, self-proclaimed as the world’s largest hotel franchisor, boasting over 9,000 hotels, presented an indomitable front.
The epic showdown between these corporate giants unfolded under the watchful eyes of Adam Turteltaub and Danielle Scalzo, the leaders of the Willkie team representing Choice.
