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Chinese insurer Anbang withdraws bid for Starwood Hotels

​Starwood Hotels & Resorts Worldwide (NYSE: HOT) announced Thursday that the consortium led by China's Anbang Insurance Group has withdrawn its bid.

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China's Anbang trumps Marriott with $15 billion bid for Starwood

The fight for Starwood Hotels swung back in favor of China’s Anbang after the insurance company offered $15 billion in a counterpunch to Marriott International.