Wyndham's Board Recommends Shareholders Reject Choice Exchange Offer

(RTTNews) - Wyndham Hotels & Resorts (WH) said its Board has unanimously determined the unsolicited exchange offer from Choice Hotels International, Inc. (CHH) to acquire all outstanding shares of Wyndham is not in the best interests of the company and its shareholders. The Wyndham Board unanimously recommended that shareholders not tender any of their shares into the offer.

Stephen Holmes, Chairman of the Board, said: "We are confident Wyndham can deliver long-term shareholder value well in excess of the $85 per share offered by Choice by continuing to execute on our existing business plan."