Starwood Recieves Higher Offer from Anbang

    Starwood Hotels & Resorts has received a revised proposal from the Anbang consortium with an increased purchase price of $82.75 per share, which surpasses Marriott’s raised offer from last week. The company said the new bid is “reasonably likely” to lead to a superior proposal. Starwood’s board has not changed its recommendation in support of a merger with Marriott. To read more, click here.