Anbang Tops Marriott's Offer

The Marriott/Starwood merger saga continues.  Anbang has topped Marriott's previous offer with a $82.75 cash bid.  It doesn't look like Starwood's board has accepted the offer yet but I can't imagine them not accepting a superior all cash bid.  The only reason not to accept would be concern over regulatory authorities (in China) blocking the deal.

St. Regis San Francisco

If you haven't followed the story, here are previous posts:

Marriott tops Anbang's bid

Starwood signs deal with Anbang

Marriott buys Starwood

It seems Marriott has put a press release basically stating that they won't top the bid and shareholders should continue to vote for the Marriott/Starwood tie-up given greater potential for long term shareholder value creation.  While that may be possible, the better short term deal is clearly Anbang's.