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Anbang denies InterCon bid report

Profile Photo By: Steve Shellum
August 8, 2016

Anbang denies InterCon bid report

Anbang has denied it plans to make a bid and is not considering an offer for InterContinental.

InterContinental, with a market value of 6.27 billion pounds (US$8.2 billion), has been the subject of recurring takeover speculation amid consolidation in the lodging industry worldwide.
Beijing-based Anbang in March abruptly withdrew its US$14 billion takeover offer for Starwood Hotels & Resorts Worldwide, clearing the way for Marriott International to buy the US hotel company.

The UK’s Sunday Times reported that Anbang was in the early stages of considering making a 7 billion pound offer for InterContinental.

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