Choice ends hostile bid for Wyndham Hotels (updated)

Choice Hotels International

11/03/2024 10:45

(Adds details from the release)
       March 11 (Reuters) - Choice Hotels International  CHH.N 
said on Monday it has terminated its hostile bid for rival
Wyndham Hotels & Resorts  WH.N  after failing to gather enough
support from the target's shareholders.
    The company will also withdraw its nomination of independent
director candidates for election at Wyndham's 2024 annual
meeting.
     Choice said its board had authorized an increase of 5
million shares to its repurchase program. 

 (Reporting by Aishwarya Jain in Bengaluru; Editing by Shilpi
Majumdar and Sriraj Kalluvila)
 ((Aishwarya.Jain@thomsonreuters.com;))