Choice Hotels launches hostile exchange offer for Wyndham at ~$90/share; begins HSR review

CHOICE HOTELS INTERNATIONAL INC /DE

Exchange offer: $49.50 cash + 0.324 CHH shares per WH share, valued at ~$90/share (30% premium to Wyndham's Oct 16 close of $69.10).
Choice holds 1.5M Wyndham shares (>$110M) and filed for HSR antitrust review with the FTC today.
Regulatory ticking fee of $0.45/share per month accruing after one year if transaction not closed.
Choice plans to nominate independent director candidates to Wyndham's board at the 2024 annual meeting.
Offer expires March 8, 2024, unless extended; conditions include all required regulatory approvals.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.