Wyndham Hotels & Resorts (NYSE: WH) today commented on the expiration of Choice Hotels International, Inc.'s (NYSE: CHH) exchange offer and its decision to withdraw its slate of nominees for election to Wyndham's Board of Directors at the 2024 Annual Meeting of Shareholder.
Depending on participation, Choice intends to either extend or terminate the exchange offer and will evaluate next steps related to its nomination of a slate of independent directors for election to the board of directors of Wyndham.
Nominees Selected to Rubber-Stamp Choice's Underwhelming and Risk-Laden Offer - Board Remains Open to an Offer That is in Best Interests of Wyndham and its Shareholders
Offer Continues to Undervalue Wyndham and Exposes Wyndham Shareholders to Significant Asymmetrical Risk
Calls Out Wyndham's Campaign of Disinformation - Reiterates Commitment to Completing Pro-Competitive, Pro-Franchisee, and Pro-Guest Combination
Choice Has Recently Engaged with Wyndham Shareholders Representing over 40% of Shares Outstanding; Many Shareholders Are Eager for Both Parties to Work Together to Reach an Expedient Resolution
Wyndham Board Believes the Company Can Deliver Long-Term Shareholder Value in Excess of the Current $85 Per Share in Cash and Stock Offered by Choice
Choice Hotels International, Inc. (NYSE: CHH), today announced that it is commencing an exchange offer to acquire Wyndham Hotels & Resorts, Inc. (NYSE: WH) in order to present its compelling proposal directly to Wyndham shareholders.
Urges Shareholders Not to Take Action at This Time
Choice Reportedly Buys Wyndham Shares To Nominate Board Members