Starwood is taking a revised buyout bid from Marriott, three days after the hotel called off their deal in favour of an offer from a group of investors led by Chinese insurance company Anbang.
The revised deal would give Starwood shareholders $US21 in cash and 0.80 shares of Marriott International Inc Class A stock for each Starwood share.
Starwood shareholders are also expected to get Interval Leisure Group stock valued at $US5.83 per share. Taken together, that would value Starwood stock at $US85.36 per share.
The latest offer from Anbang and its partners was worth $US83.67 for each Starwood share. Starwood stockholders would have received $US78 in cash for each share they own plus $US5.67 in stock for a spinoff of a vacation business.
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