China’s Anbang, Primavera Offer $13B Counter Bid For Starwood

China's Anbang Insurance Group Co., Primavera Capital and J.C. Flowers have submitted an unsolicited US$13 billion counter bid for Starwood Hotels & Resorts Worldwide Inc., threatening the hotelier’s pending sale to Marriott International Inc. The Anbang-led investor group says it would pay US$76 per share in cash, compared to the previously agreed Marriott cash-and-stock transaction, […]

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Read the original article: China Money Network