BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'deal tax'. (Return)

MarketWatch MarketPulseJan 18, 2018
Wyndham Worldwide to pay $1.95 billion for La Quinta's hotel business
Wyndham Worldwide Corp. said Thursday it will pay $1.95 billion in cash to buy La Quinta Holdings Inc.'s hotel franchise and management businesses. Under terms of the deal, La Quinta shareholders will receive $8.40 a share in cash, a total of about $1 billion, Wyndham will repay about $715 million in La Quinta debt and Wyndham will set aside $240 million in reserves for estimated taxes in connection with the spinoff of La Quinta's owned real estate assets. La Quinta's stock closed Wednesday at $19.45, giving the company a market capitalization of $2.28 billion. 'La Quinta will immediately become one of our flagship brands,' said Wyndham Chief Executive Geoff Ballotti. 'It is an exceptionally strong brand that is led by service-minded associates who deliver some of the highest customer engagement levels in our industry.' Wyndham and La Quinta shares were not active in premarket trade. La Quinta's stock has run up 35% over the past 12 months, while Wyndham shares have soared 52% and the S&P 500 has climbed 23%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


TRENDING TAGS
Chinagrowth Economic shares GDP economy
Trumpadministration President Trade China Apple
StockWall Dow market INC Buy
Applecash campus Billion Pay Plans
TaxApple Pay cash America Bank
AmazonHeadquarters Second finalists Google York
dealEmirates A380 billion Amazon Airbus
BusinessHow Insider Here Build Apple
billionApple pay Cash Bitcoin Tax
Marketstock stocks Extra GLOBAL bond

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact

©1999-2018 CEOExpress Company LLC