Choice Hotels Launches Hostile Takeover Bid for Wyndham

The merger, if successful, would create North America's largest budget hotel franchisor, despite opposition from majority of franchisees.

Choice Hotels has launched a hostile takeover bid for Wyndham Hotels & Resorts, offering $49.50 in cash and 0.324 shares of Choice common stock per Wyndham share.
Wyndham has previously rejected four offers from Choice, the most recent of which was valued at approximately $86 per share.
Choice currently holds roughly 1.5 million shares of Wyndham’s common stock valued at more than $110 million.
If the merger goes through, it would create the largest budget hotel franchisor in North America.
Nearly 80% of Choice and Wyndham franchisees believe a merger would have a negative impact on their business.