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US FTC pleased with Choice's abandonment of hostile takeover of Wyndham, will continue to monitor industry

( March 12, 2024, 14:42 GMT | Official Statement) -- MLex Summary: The US Federal Trade Commission said that it is pleased with Choice Hotels International's decision to abandon its proposed acquisition of Wyndham Hotels & Resorts and withdraw its nominations to replace Wyndham’s board of directors. "Each of these actions posed serious competition questions and their abandonment is a win for consumers," said FTC Bureau of Competition Director Henry Liu. The FTC will continue to monitor this industry, he said. "We will not hesitate to enforce the antitrust laws to ensure that travelers have access to quality, affordable lodging and that hotel franchisors compete on the merits for franchisees."Statement follows below:...

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