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China’s Anbang challenges Marriott with $13 billion Starwood offer

The non-binding bid, unveiled on Monday, just days after Anbang agreed to acquire Strategic Hotels & Resorts Inc from buyout firm Blackstone Group LP for $6.5 billion, would represent by far the biggest Chinese investment in U.S. real estate assets. The head of China's insurance regulator, Xiang Junbo, wrote in January in a magazine published by the country's central bank that Chinese insurers should venture overseas for investments. Anbang's $2 billion acquisition…

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China’s Anbang challenges Marriott with $13 billion Starwood offer