Starwood receives sweetened $15B bid from Anbang-led group

Staff Writer
Columbus CEO

NEW YORK (AP) — The price for Starwood Hotels just keeps rising, with the latest bid from China's Anbang and its partners crossing the $15 billion mark.

Starwood said Monday it will now have to determine if the sweetened offer from a group led by Anbang is superior to Marriott's revised bid, which arrived just last week.

The newest offer is for $88.66 per Starwood share, or $15.03 billion. Marriott International Inc.'s latest bid was valued at $14.41 billion.