Brief: Choice Hotels Launches Exchange Offer To Acquire All Outstanding Shares Of Wyndham Hotels & Resorts

Choice Hotels International

12/12/2023 11:35

Dec 12 (Reuters) - Choice Hotels International Inc
 CHH.N :
    * CHOICE HOTELS LAUNCHES EXCHANGE OFFER TO ACQUIRE ALL
OUTSTANDING
SHARES OF WYNDHAM HOTELS & RESORTS
    * CHOICE HOTELS INTERNATIONAL INC - PREPARING TO NOMINATE
CANDIDATES TO WYNDHAM BOARD OF DIRECTORS
    * CHOICE HOTELS INTERNATIONAL INC - DISCLOSES OWNERSHIP
POSITION
OF MORE THAN $110 MILLION OF WYNDHAM STOCK
    * CHOICE HOTELS INTERNATIONAL INC - COMMENCES REGULATORY
APPROVAL
PROCESS
    * CHOICE HOTELS INTERNATIONAL INC - CURRENTLY HOLDS
APPROXIMATELY
1.5 MILLION SHARES OF WYNDHAM COMMON STOCK,
    * CHOICE HOTELS INTERNATIONAL INC: EXCHANGE OFFER MAINTAINS
PREVIOUSLY PROPOSED OFFER TO WYNDHAM,
    * CHOICE HOTELS INTERNATIONAL:WILLING TO OFFER WYNDHAM
SHAREHOLDERS REVERSE TERMINATION FEE THAT IS CONSISTENT WITH
TERMS IN NOV 14, 2023 PROPOSAL
    * CHOICE HOTELS INTERNATIONAL INC -  WILLING TO OFFER
WYNDHAM
SHAREHOLDERS TWO SEATS ON COMBINED COMPANY'S BOARD
    * CHOICE HOTELS INTERNATIONAL INC: CHOICE IS COMMITTED TO
COMPLETING TRANSACTION WITHIN ONE YEAR.
    * CHOICE HOTELS INTERNATIONAL INC: HAS ALREADY MET WITH FTC
ON A
VOLUNTARY BASIS TO DISCUSS PRO-COMPETITIVE NATURE OF TRANSACTION
    * CHOICE HOTELS INTERNATIONAL : IS ACTIVELY IDENTIFYING,
EVALUATING AND INTERVIEWING HIGHLY QUALIFIED DIRECTOR CANDIDATES
TO NOMINATE TO WYNDHAM'S BOARD
    * CHOICE HOTELS INTERNATIONAL INC - CONTINUES TO BELIEVE
THAT A
TRANSACTION WITH WYNDHAM IS PRO-COMPETITIVE
    * CHOICE HOTELS INTERNATIONAL INC - CO IS WILLING TO ENTER
INTO A
MUTUAL NON-DISCLOSURE AGREEMENT TO CONDUCT CONFIRMATORY DUE
DILIGENCE
    * CHOICE HOTELS INTERNATIONAL INC: INTENDS TO NOMINATE A
SLATE OF
DIRECTORS TO WYNDHAM BOARD OF DIRECTORS AT WYNDHAM'S 2024 ANNUAL
SHAREHOLDER MEETING

Source text for Eikon:  ID:nPn3N4JkQa 
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