Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after repeated attempts to reach an agreement with the rival hotel chain were rebuffed. Choice Hotels said Tuesday that its exchange offer to shareholders of Wyndham, which operates Days Inn, La Quinta, Ramada and a host of other brands, is consistent with … [Read more…]
Bing Guan/Bloomberg/Getty Images The Macy’s flagship store in the Herald Square district of New York. Shares of the stock rose sharply after a $5.8 billion bid for the company was reported. New York CNN – Shares of Macy’s jumped more than 20% in premarket trading on Monday after The Wall Street Journal reported that a … [Read more…]
Longtime Macy’s (M) shareholders just received an early Christmas present. Macy’s has received a $5.8 billion takeover offer from real estate investor Arkhouse Management and asset manager Brigade Capital Management, a source familiar with the matter told Yahoo Finance late Sunday. The company’s board is considering the offer. The WSJ first reported news of the … [Read more…]
Ultimately, the Mach Group will buy part of the real estate portfolio of Stéphan Huot’s defunct empire for an amount of around $560 million. All that is needed is the court’s consent to proceed, as none of the creditors have raised objections to the proposed order. • Also read: With a debt of $1.2 billion, … [Read more…]
Nearly half of Buick dealers are accepting a takeover offer from General Motors Co. as industry stakeholders grapple with a rocky transition to electric vehicles. Buick, GM’s oldest brand and the only brand not to offer an electric vehicle, said this week it had reduced its dealer count by 47% after offering the buyout program … [Read more…]