Choice Hotels goes public with $7.8B offer for rival Wyndham after talks break down
) for $90 per share in cash and stock. The two have been in merger talks for six months but Wyndham has since disengaged, Choice Hotels states.
Under the offer, Wyndham shareholders would receive $49.50 in cash and 0.324 shares of Choice common stock for each Wyndham share they own. The proposal implies a total equity value for Wyndham of approximately $7.8 billion on a fully diluted basis. With the assumption of Wyndham's net debt, the proposed transaction is valued at approximately $9.8 billion.
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