"Choice Hotels Abandons $7 Billion Bid for Wyndham in Stock Surge"
Choice Hotels International has terminated its hostile bid for rival Wyndham Hotels & Resorts after failing to gather enough support from the target's shareholders. The company will also withdraw its nomination of independent director candidates for election at Wyndham's 2024 annual meeting. Ending the takeover bid could result in an upside for Choice, with an analyst upgrading the budget hotel operator to "buy" from "underperform."