---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-257245"
form_type: "8-K"
ticker: "CHH"
cik: "0001046311"
company_name: "CHOICE HOTELS INTERNATIONAL INC /DE"
filed_at: "2023-10-17T23:59:59+00:00"
generated_at: "2026-06-09T22:22:58.575739+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Choice Hotels proposes to acquire Wyndham for $90/share, ~$7.8B equity value

## Summary
- Total equity value ~$7.8B (enterprise value ~$9.8B); consideration 55% cash / 45% stock.
- 26% premium to 30-day VWAP, 11% premium to 52-week high, 30% premium to latest close.
- Annual run-rate synergies of ~$150M; two Wyndham board seats planned.
- Previous offers increased from $80 to $85 to $90; Wyndham disengaged after six months of dialogue.
- Financing highly confident from two bulge bracket banks; no financing contingency.

## SEC filing metadata
- accession: 0001193125-23-257245
- form_type: 8-K
- ticker: CHH
- cik: 0001046311
- company_name: CHOICE HOTELS INTERNATIONAL INC /DE
- filed_at: 2023-10-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1046311/000119312523257245/0001193125-23-257245-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1046311/000119312523257245/d512528d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-257245
- JSON: https://secwatch.observer/filing/0001193125-23-257245.json
- Plain text: https://secwatch.observer/filing/0001193125-23-257245.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.