BREAKING: Starwood Signs Deal with Anbang

I celebrated my birthday earlier in the week and my birthday wish was for Starwood to stay independent and not become part of Marriott.

Well it looks like Starwood has made my wish come true.

This morning they signed a deal to be acquired by China's Anbang Group for $78 a share.  That trumps Marriott's original bid...Marriott now has 5 days to respond.

While I still think the Marriott purchase could turn out okay for Starwood loyalists, it would be far better for SPG to stay independent and retain the qualities (notably the amazing loyalty program) that have drawn many of us to the chain for years.

This will be some interesting corporate M&A drama to watch.  Stay tuned!