Hostile Activity - Tracking CHH and WH on Social Media (Day 1 Morning - Afternoon)
When I was a corporate communications intern at AOL Time Warner (pre-Columbus Circle), we used to do a daily search through the newspapers and cut out clips mentioning the company, directly and indirectly. We would then paste them on paper (enough news to turn it into a small laminated book), make copies for the whole C-suite, and deliver them. I remember venturing into Dick Parsons’ office once - let me say, they don’t make offices like that anymore (so far as I know). Everything always comes back full circle. Following the public filing documenting CHH’s offer to WH, here is what social media had to say on the topic:
Make no mistake: $CHH going public with its offer to $WH is a hostile action. According to $CHH's public filing made this morning, $WH "made it clear they were unwilling to proceed with further discussions" and "raised questions regarding the value of Choice's stock and timing…
— Transactional Delights (@TD1022020) October 17, 2023
After six months of talks, Choice Hotels makes its offer for Wyndham Hotels public this morning. @WSJdeals broke the story first in May that Choice was seeking a deal. $CHH $WH https://t.co/D0VlWOf3Wp
— Lauren Thomas (@laurenthomas) October 17, 2023
$WH $CHH -Check out my colleague @ClarkSchultz
— Josh Fineman (@jfineman) October 17, 2023
Choice Hotels fires off takeover offer for Wyndham Hotels & Resorts https://t.co/AnPJkAwi6S
Today's M&A and SPAC notes$OLK to be acquired by $TMO for $26.00 cash per ADS, 73.6% premium, $3.1 billion$CHH announced an unsolicited proposal for $WH at $90.00 per share in cash + stock$ISRL announced an LOI for a business combination with Pomvomhttps://t.co/wEbfgeCxb3
— Julian Klymochko (@JulianKlymochko) October 17, 2023
$CHH is making an offer to buy $WH in a roughly $7.8 billion takeover that would combine two of the largest operators in the budget hotel space.@ChoiceHotels CEO Patrick Pacious joins with more on the deal: pic.twitter.com/MmtLOyVc9E
— Squawk Box (@SquawkCNBC) October 17, 2023
Choice Hotels International $CHH going hostile by announcing a proposal to acquire Wyndham Hotels & Resorts $WH at a price of $90.00 per share, payable in a mix of cash and stock, 11% Premium to 52-Week High, and 30% Premium to Latest Closing Price. https://t.co/V9BBlce9zD
— For Fairness Sake (@ForFairnessSake) October 17, 2023
Not news for those who read @laurenthomas & @DaveCBenoit https://t.co/rO8epZfu1c$CHH $WHhttps://t.co/3kc0j5SwQs
— Will Feuer (@WillFOIA) October 17, 2023
Recent $ billion moves: Goldman $GS exiting consumer businesses & taking billion dollar charges, $CHH Choice Hotels hostile bid for Wyndham $WH, activist campaign to break up News Corp..
— Paul Nary (@ProfPaulNary) October 17, 2023
It’s all about corporate strategy, which barely gets attention from scholars anymore. Why?🤷♂️
$CHH with a solid offer to purchase $WH at $90. Initial trading suggests some skepticism for whether this deal will consummate. If deal closes it will create a behemoth in the budget-mid hotel space. I applaud the management team at Choice for their strategy.
— WorkingCapital (@workingtrades) October 17, 2023
No idea how brand differentiation will work, they operate in the same brand scales.
— Raj | Hospitality & Real Estate (@rajchudasama) October 17, 2023
Choice Hotels $CHH dropped 2.3% after the hotel chain proposed buying Wyndham Hotels & Resorts $WH for $90 per share, valuing Wyndham at roughly $7.8 billion. Wyndham’s stock popped 15% on news…
