(AOF) – Choice Hotels International has opened a new phase of its $8 billion hostile bid for its competitor Wyndham Hotels & Resorts by appointing a list of eight “highly qualified independent ety” directors intended to replace the board of directors of its target at the next general meeting. Choice attempted to negotiate a deal with Wyndham in 2023, but it rejected the offer citing antitrust risks and concerns about the combined company’s debt load.
With this listing “Wyndham shareholders will have the opportunity to be represented by a board of directors that will fulfill its fiduciary duty to act in the best interests of shareholders and consider all avenues to create value”