Starwood higher after receiving new offer

|By:, SA News Editor

Marriott International (NASDAQ:MAR) announces it is still on track to merge with Starwood Hotels & Resorts (NYSE:HOT), even with a consortium led by Anbang Insurance Group on the hunt for Starwood.

In a separate announcement, Starwood says its board of directors hasn't changed its support of the combination of the hotel giants.

Shareholders of Marriott and Starwood vote on the issue on March 28.

Previously: Report: Anbang to buy Strategic Hotels for $6.5B (Mar. 13 2016)

HOT +6.60% premarket to $75.75 after receiving the competing offer at $76.

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