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CHINA’S Anbang Insurance Group Co has raised its offer for Starwood Hotels & Resorts Worldwide Inc to almost US$14 billion in its latest challenge to the US hotel operator’s merger with Marriott International Inc .


The bidding war for Starwood has pitted Marriott’s ambitions to create the world’s largest lodging company with about 5,700 hotels against Anbang’s drive to create a vast investment portfolio of high-yielding US real estate assets.


The acquisition of Starwood scarpe nike air max 270 , owner of the Sheraton and Westin brands, by Anbang would be the largest ever by a Chinese company in the United States.


Anbang’s consortium, which includes private equity firms JC Flowers & Co and Primavera Capital Ltd, has offered US$82.75 per share in cash scarpe nike air max 90 , in what is reasonably likely to lead to a proposal that is superior to the deal with Marriott, Starwood said yesterday.


Marriott’s latest cash-and-stock offer, which was announced on March 21, is currently worth around US$78 per share. Starwood’s board has not yet changed its recommendation to its shareholders in support of the company’s merger with Marriott scarpe nike air max 98 , Starwood said. A vote for Starwood shareholders to approve the Marriott deal is scheduled for April 8.


Marriott declined to say yesterday if it would increase its offer further. In a statement, Marriott said it was confident that the previously announced amended merger agreement with Starwood is the best course for both companies.


“Starwood stockholders should give serious consideration to the question of whether the Anbang-led consortium will be able to close the proposed transaction, with a particular focus on the certainty of the consortium’s financing and the timing of any required regulatory approvals,” Marriott said in its statement.


In any deal with Anbang or Marriott scarpe nike air max 97 , Starwood shareholders will also receive stock in Interval Leisure Group Inc, which is getting Starwood’s vacation ownership business, currently worth US$5.91 per Starwood share.


Some investors hoped Anbang’s move would prompt Marriott to walk away from an expensive deal.


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