: Wyndham says letter from hostile bidder Choice is a step backwards, says offer undervalues hotel c

Wyndham Hotels & Resorts Inc. WH said Tuesday a letter it has received from Choice Hotels International Inc. CHH represents step backwards and the terms outlined are neither in Wyndham’s interest or those of its shareholders. Choice launched a hostile bid for Wyndham in October, offering to take it over at $90 a share in stock and cash. “Choice’s first communication in a month since its public disclosure of its unsolicited proposal contains no change to the form of consideration and...