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Hyatt Takes on China in Battle for Starwood

Get ready for a showdown. Starwood Hotels & Resort is in advanced talks to merge with fellow hotel conglomerate Hyatt Hotels, which would thwart China's efforts to acquire Starwood in the largest Chinese takeover of a US company to date. 

Hyatt and Starwood—which is valued at over $12B—are discussing a possible cash-and-stock transaction, where Hyatt would acquire Starwood and run it under its management. The official deal will likely be announced in two weeks (barring a last-minute Chinese interception). [GS]