* Anbang need a big bump --> Nomura analyst on CNBC thinks Anbang comes back , speculating $2-3 higher.
That is not going to get HOT Board to declare a superior proposal; they are going to need to be much higher in value.
HOT/MAR - Reducing stock component and increasing synergies makes deal breakeven on EPS rather than accretive in second year. Comments by HOT about MAR trading at higher-than-industry P/E multiple indicates new structure addresses additional fixed value increase (i.e. $21/share cash) plus the continued interest in the combined entity (0.80 MAR or 34% P/F S/O ownership). An increased straight-up cash proposal from the Anbang Consortium is going to have to be significantly higher in value (i.e. the first Anbanh proposal was a 16% premium for HOT excluding the spin-off) to be competitive with the amended MA, which at the $79.53/share value implies a $92.25/share caroposal osh pr at $10-$12/share cash premium implies ($89.50-$91.50/share).