A screen displays the logo for Wyndham Hotels & Resorts, Inc. at the New York Stock Exchange (NYSE) in New York City, U.S., June 5, 2023.
Choice Hotels is abandoning its hostile $8 billion takeover bid for Wyndham Hotels & Resorts .
Choice launched a hostile takeover offer for Wyndham in December after repeated attempts to reach a deal with the rival hotel chain were rebuffed.
Choice's exchange offer expired on Friday.
"The Wyndham board is pleased that Choice has ended its hostile pursuit and proxy contest, following the expiration of its unsolicited exchange offer," Wyndham Chairman Stephen Holmes said in a news release.
Persons:
Wyndham, Stephen Holmes
Organizations:
Wyndham Hotels & Resorts, Inc, New York Stock Exchange, Choice, Wyndham, Ramada
Locations:
New York City, U.S, La Quinta