Marriott “Zero Buyer’s Remorse”, Anbang Got Too High Profile” for Chinese Govmt

by Adam

Marriott CEO Arne Sorenson said on Friday morning that the company has zero buyer’s remorse…though they of course would have loved to acquire Starwood for $1 billion less.

“We have the only binding deal with Starwood, we have zero buyer’s remorse. We continue to believe that what we can create by pulling these two companies together is extraordinarily powerful. Of course we would love to have this company for $1 billion less, there’s no doubt about that, but they were real with their first bid,” Sorenson said in a interview on the cable business channel CNBC, describing Anbang’s initial offer as “fully financed, fully credible, essentially no conditions.”

Meanwhile, Jim Cramer says that Anbang got too high profile and that the deal was bringing too much attention to the Chinese company.

“Anbang is a state-run Chinese company, and they play with any money they want. I think that they got too high profile, and the Chinese government started to get worried that they’re being talked about too much.”


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