Starwood Accepts Anbang’s $78 Offer; Bidding War Expected to Ensue

No one knows who Anbang is, other than a large Chinese insurance company that wants to be Berkshire Hathaway. That’s not stopping Starwood from accepting their $78 cash offer for their company. This, of course, goes over poorly with the blokes over at Marriot, who had a competing offer.

I don’t think Marriot will sit idle as the Chinese Warren Buffett snatches up HOT. Seeing the stock above the agreed upon $78 offer, I am not the only one who believes this.