(Reuters) – Choice Hotels International said on Monday it has terminated its hostile bid for rival Wyndham Hotels & Resorts after failing to gather enough support from the target’s shareholders.
The company will also withdraw its nomination of independent director candidates for election at Wyndham’s 2024 annual meeting.
Choice said its board had authorized an increase of 5 million shares to its repurchase program.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Shilpi Majumdar and Sriraj Kalluvila)
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