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Anbang, which has links to the Chinese government, owns the famed Waldorf Astoria Hotel in New York City. Anbang also negotiated a $4 billion property deal with Jared Kushner's family-owned company.
A new government agency is making the financial sector queasy in China.
The rumored detention of a Chinese exec with Kushner ties could mean upheaval for China’s banking system
Remember Anbang Insurance?
Just after Trump won, his son-in-law had a cozy meeting with a Chinese exec who’s buying US assets left and right
Have you ever heard of Anbang Insurance?
"I think a lot of these companies are still learning how to do M&A," Goldman Sachs' cohead of global mergers and acquisitions, Gregg Lemkau, said.
Starwood last year agreed to be bought by Marriott International. Anbang had made multiple attempts to bust up that deal in recent weeks.
Marriott's big disadvantage in this fight is that its offer is based primarily on stock, while Anbang's offer is all in cash.
Anbang has made a revised offer for Starwood
Anbang is likely to boost its bid for for Starwood Hotels.