2016-04-01 — reuters.com
Anbang did not offer Starwood a reason for not following through on its raised offer of March 26, according to people familiar with the matter. They asked not to be identified disclosing confidential discussions.
"The reason of withdrawal is simple - Anbang isn't interested in a protracted bidding war," Fred Hu, chairman of Primavera, told Reuters in an email.
Seems unlikely given that Anbang was already bidding. Probably the regulatory realities came home to roost...
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