The American hotel chain Choice Hotels has made a bid for competitor Wyndham Hotels and Resorts worth approximately $7.8 billion (approximately SEK 85 billion), according to a press release.

Choice is offering Wyndham owners $90 per share, of which $49.50 is in cash and the remainder in Choice Hotels shares.

Wyndham Hotels and Resorts has brands like Ramada, Howard Johnson, and Travelodge, while Choice Hotels owns brands like Quality Inn and Econo Lodge.

Wyndham shares were up just before 1 p.m. in early American pre-trade to $82.40.

Source: Dagens Industri