Skift Take
The market has become less skeptical of Choice's hostile takeover bid for Wyndham, despite many roadblocks. The Skift Travel 200 sheds light on the thinking behind this offer.
Choice Hotels created a storm last October when it went public with a hostile takeover bid for Wyndham Hotels & Resorts. It is giving Wyndham stockholders until Friday to tender their shares.
Choice Hotels will use the response to gauge how much traction it has among Wyndham shareholders. It will use that response to decide if it should adjust or withdraw its offer and if it should continue to pursue its slate of nominee members for Wyndham's board.
What are the chances of a merger happening as of today? Chances have improved since the deal was announced.
"It's looking more like a 50/50 bet today," said Seth Borko, Head of Research, at Skift Research.
Skift Research, using the using the Skift Travel 200 stock index and options data, estimated on October 20 that stock and options markets were assigning Choice o