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Shares of Wyndham Hotels & Resorts jumped more than 6% in afternoon trading on Tuesday and shares of Choice Hotels fell more than 5% after Wyndham rejected an unsolicited $8 billion buyout offer from Choice Hotels. Once
Wyndham Hotels & Resorts Inc. called Choice Hotels International Inc. s takeover offer "underwhelming," rejecting a proposal that would create a dominant player in the budget hotel space.
Wyndham Hotels & Resorts rejected an unsolicited $8 billion buyout offer from Choice Hotels, a smaller chain that went public Tuesday with its bid after negotiations broke down.