Fri. Jul 12th, 2024
Statement Regarding the Termination of Choice Hotel’s Proposed Takeover of Wyndham Hotels & Resorts

The Federal Trade Commission has learned that Choice Hotels International has abandoned its proposed acquisition of Wyndham Hotels & Resorts and withdrawn its nominations to replace Wyndham’s Board of Directors. In response, FTC Bureau of Competition Director Henry Liu issued the following statement:

“I am pleased that Choice Hotels International has abandoned its efforts to seize control of its rival Wyndham Hotels & Resorts. The FTC was closely scrutinizing Choice’s tender offer as well as its efforts to replace the Wyndham Board of Directors with its own hand-picked slate of nominees. Each of these actions posed serious competition questions and their abandonment is a win for consumers.

The FTC will continue to monitor this industry. We will not hesitate to enforce the antitrust laws to ensure that travelers have access to quality, affordable lodging and that hotel franchisors compete on the merits for franchisees. I want to extend my thanks to the entire FTC team for their work on this matter.” 

Official news published at https://www.ftc.gov/news-events/news/press-releases/2024/03/statement-regarding-termination-choice-hotels-proposed-takeover-wyndham-hotels-resorts

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originally published at Finance - RSVTV news