After nearly completing a deal that took four months of preparation, Marriott International is again at risk of losing Starwood Hotels & Resorts to Anbang Insurance Group. Marriott has now entered round two of a bidding war with Anbang, which has now offered Starwood $14 billion for the takeover—a response to Marriott’s most recent offer of $13.6 billion. Some analysts suggest Marriott will not again sweeten its deal, as the ever-increasing price is presenting more of a financial risk. If Anbang wins the deal, the acquisition will be the largest-ever purchase of a U.S. company by a Chinese firm. At the moment, Anbang’s all-cash bid could be the more attractive option for Starwood, versus Marriott’s cash-and-stock bid. That said, the Chinese insurer made three unsuccessful offers last year to purchase the chain, so perhaps this deal will come to a similar end. Read more here.
